The 31-year-old Smoothie King Center is in dire need of renovations. The key question is, where is the money going to come from? NOLA.com Business Editor Stephanie Riegel says so far, they have just over half the money secured.
“Landry has committed to supporting$75 million in the Capital Outlay Budget over two years, and Gayle Benson’s organization has said she personally has committed $150 million,” Riegel noted.
That leaves the Louisiana Stadium and Exposition District on the hook for the remaining $195 million. Riegel says time is of the essence in getting these renovations done – the first is to bolster New Orleans’ chances of landing the 2031 Super Bowl.
“NFL Commissioner Roger Goodell has made clear, as recently as the Saints game in Paris when he was sitting with Governor Landry, that they would like to see that done; and that it would enhance New Orleans’ competitiveness in the bid for that game,” Riegel explained.
Riegel says the other reason is to potentially keep the Pelicans in New Orleans.
“The Pelicans’ lease expires in two years. And so they need to have a new deal with the arena in order to keep the Pelicans here,” Riegel said.