Tom Benson Buys the Saints
Tom Benson purchased the New Orleans Saints in 1985, finalizing the deal to acquire the NFL franchise from John W. Mecom Jr. The acquisition price was reported at approximately 70 million dollars at the time, marking a major shift in the team's ownership structure. This transaction established Benson as the controlling owner of the Saints and the New Orleans Pelicans NBA franchise under the umbrella of Benson Sports Ownership Group Forbes NFL valuation history.
Benson's purchase ended the long tenure of Mecom, who had owned the team since its founding in 1967. The Saints had struggled on the field and financially under previous ownership, and Benson's entry brought a new era of stability and investment. His holding company, Benson Sports Ownership, became the official entity managing the franchise's operations and business decisions.
Key Details of the Purchase
Transaction Structure and Price
The 1985 sale was structured as a straightforward ownership transfer, with Benson paying Mecom for full control of the Saints and the team's assets. The exact purchase price was widely reported as 70 million dollars, a significant sum for an NFL franchise at that time SEC filings reference.
Benson's acquisition included the team's player contracts, coaching staff, and operational control of the Superdome lease arrangements. The deal positioned the Saints as a privately held franchise under Benson's direct management, separate from any public company structure at that time.
Immediate Impact on the Franchise
After the purchase, Benson invested in stadium upgrades and front office infrastructure to modernize the Saints' operations. The team's branding and community engagement efforts expanded under his ownership, laying the groundwork for future success on the field.
Ownership Timeline and Legacy
Benson's Tenure as Owner
Tom Benson served as the Saints' owner from 1985 until his death in 2018, making him one of the longest-tenured owners in NFL history. During his tenure, the franchise reached Super Bowl XLIV in February 2010 and won the game against the Indianapolis Colts Forbes Super Bowl run.
Following Benson's passing, ownership transferred to his widow, Gayle Benson, who remains the controlling owner of both the Saints and the Pelicans. The Benson Sports Ownership entity continues to manage the franchises, maintaining the legacy established by the original 1985 acquisition Forbes ownership transfer guide.
Current Franchise Value
As of the latest Forbes NFL valuations, the New Orleans Saints are estimated to be worth over 5 billion dollars, reflecting the long-term growth under Benson's ownership and the subsequent Benson family stewardship. The franchise remains a major economic driver for New Orleans and a key asset in the Benson Sports Ownership portfolio.
