Benson pledges $150 million for Smoothie King Center renovations

Owner Gayle Benson has pledged $150 million toward a proposed $420 million renovation of the Smoothie King Center in New Orleans.

The New Orleans Saints and Pelicans announced the private investment on Sunday. Greg Bensel, the team's senior vice president of communications, stated that the funds represent a personal commitment to modernize the state-owned building. He said the goal is to secure the long-term future of the basketball franchise in the city.

The arena is currently operated by the Louisiana Stadium and Exposition District, or LSED. According to reports, Governor Jeff Landry is expected to offer $75 million in state funding for the project. That figure would leave a remaining gap of approximately $200 million. The LSED would be responsible for covering that cost.

Rob Vosein, the chairman of the LSED, said the agency is working to reach a financial agreement that benefits all parties. He noted that the group does not have a specific timeframe for when negotiations will be complete. Vosein stated that the district is focused on making the project financially sound for everyone involved.

Team officials argue that the renovations are essential for keeping the Pelicans in New Orleans. The current lease for the arena expires in 2029. Bensel warned that delays in planning and construction increase costs. He said that if an agreement is reached, the team intends to move its training facility to Champions Square. The broader vision includes creating a one billion dollar sports and entertainment district with restaurants, retail, and office space.

The proposed changes would add more than 2,100 lower-level seats. Upgrades are also planned for the area between the Smoothie King Center and the Superdome. While the project centers on basketball, officials said it would help New Orleans host a future Super Bowl. Bensel said a renovated venue would strengthen the city's hosting package. The city aims to bid for the Super Bowl in 2031.