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Movie executive says Saints will get their money back

nfl_payton_250.jpgThe chief executive of Louisiana Film Studios LLC has some news that should lower Jeremy Shockey’s blood pressure.  (Or at least quiet his Twitter account.)

In a statement issued Friday, Wayne Read says he intends to repay the Saints players, coach, and other investors that thought they were buying tax credits, but appeared to have lost their investment.

Read says he will pay them back with either cash or tax credits acquired from a broker.

“The Saints players made their investments in November 2008. I
was hoping to repay their investments in five months,” Read wrote in a statement released through a PR firm.

“Unfortunately, the current economy is the worst
seen in the U.S. in many decades and has slowed my ability to repay
the investors as quickly as I would like.” 

The attorney for long snapper Kevin Houser, who introduced the Saints investment opportunity, says Read has long promised to repay the investors, with nothing to show for it.
 
Read blames “some confusion” in late 2008 over what studio expenses qualified for the credits.  He never applied for them, but says he will now.

Whether Shockey, coach Sean Payton, Charles Grant, Drew Brees, or Archie Manning actually get their coin back remains to be seen.

We can safely assume that Read’s statement won’t be enough to get Houser his job back.

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7 Responses to “Movie executive says Saints will get their money back”
  1. txkjun says: Jul 11, 2009 4:08 PM

    WHO CARES????

  2. empty13 says: Jul 11, 2009 7:30 PM

    they arent getting squat back.

  3. PatsRPerfection says: Jul 11, 2009 9:37 PM

    For about 90% of the Saints existence their fans have wanted their money back… Who could ever forget the bags over the heads in the Superdome.
    Their only glory years were under the leadership of Jim Mora and Bobby Hebert. Then they had one flash in the pan year in 2006.

  4. SaintsBucsPanthersSUKK says: Jul 11, 2009 10:32 PM

    ♪ The best things in life are free!
    ♪ But you can keep ‘em for the birds and bees!
    ♪ Now give me money!
    ♪ (That’s what I want)
    ♪ That’s what I want!
    ♪ (That’s what I want)
    ♪ That’s what I want!
    ♪ (That’s what I want)
    ♪ That’s what I want!…….

  5. buzzbissinger says: Jul 12, 2009 1:12 AM

    I’m beginning to think you (and all of you media conglomerates’[NBC et al]) get a nickel (that’s big business talk for $5,000) every time you mention Twitter.
    twitter, twitter, twitter…
    …you owe me $5,000
    p.s. SELLOUT!
    now all you sheep can chime in and tell me I’m full of ‘it’.

  6. Julius Brown says: Jul 12, 2009 5:03 AM

    I’ll gladly pay you Tuesday for a hamburger today!
    Good luck with that Saints “investors”.

  7. ProfessorSaint says: Jul 12, 2009 7:03 AM

    txkjun, apparently you care enough to have read the article.

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