Sugar Bowl state subsidy figures uncovered

The Sugar Bowl has accepted annual subsidies of at least $1 million from the state of Louisiana during much of the BCS era, while increasing its reserves to $34.2 million, records obtained by The Arizona Republic show. The Sugar Bowl’s $34.2 million net reserve is reportedly the healthiest among BCS members. Lt. Gov. Jay Dardenne told the newspaper the Sugar Bowl turned down nearly $1.4 million from the state in the fiscal year ended June 30, after publicity regarding Sugar Bowl CEO Paul Hoolahan’s pay (which was scaled back to $594,000 in 2009 from $645,000 the year previous) surfaced and because Louisiana was “going through serious financial challenges.” Dardenne also says he will work to ensure there is no Sugar Bowl subsidy this fiscal year. Last week, the Sugar Bowl reported it violated tax laws when it purchased three $1,000 tickets to dinners benefiting former Gov. Kathleen Blanco in 2004 and 2006. Since the Sugar Bowl is a nonprofit organization receiving state subsidies, it is not allowed to participate in any political campaign. Read the full story on subsidies to the Sugar Bowl here.