Saints Sold for $64 Million on Four Conditions

Automobile dealer Tom Benson announced Tuesday that he and a group of at least eight other businessmen have signed a contract to buy the New Orleans Saints for $64 million from John Mecom Jr., who bought the National Football League franchise for $8 million in 1967.

Benson said he wants a 40-year lease for his team in the Louisiana Superdome. Benson said the sale was contingent on four things--a new lease, approval by NFL owners, a virtual donation of state land across Lake Pontchartrain for a training facility, and removal of taxes on all Superdome events. He said there appeared to be no problems with getting those points worked out.