Back to the New Orleans Saints Newsfeed

NFL Rejects Proposed Tom Benson’s Family Trust Settlement Proposal

Related Topics: Tom Benson, Trust law

On June 17th 2016 it was announced that owner Tom Benson has reached a tentative settlement deal involving the family trust dispute. No specific details were given at the time but the deal had to be approved by the NFL. The NFL has rejected the proposed deal.

Basically the deal was that Mr. Benson would personally guarantee promissory notes to cover the value of the shares he would have removed from the family trust funds. We are all aware of the battle that has been going on between Tom and his estranged heirs. Wanting to leave sole control of the Saints to his wife Gayle Benson, he is trying to remove the non-controlling interest shares (60 percent) that he had placed into the family trust.