Capitalizing on the attention Katrina had brought, Benson LeBlanc and her staff, together with N.F.L. marketing maestro Frank Vuono, brought aboard a host of national and international sponsors. She helped form the Saints Business Council, a group of 27 local leaders who bought tickets, luxury suites, and sponsorships. To promote New Orleans, Benson ­LeBlanc and her marketing team staged rock concerts, the splashiest of which marked the official reopening of the Dome, headlined by U2 and Green Day.

Benson LeBlanc’s greatest innovation may have been making tickets affordable for more fans. To reflect the demographics of the post-Katrina market, the Saints offered 25,000 tickets for under $35 apiece, with many as low as $14. That’s about $61 less than the average price of an N.F.L. ticket. Not only did the Saints sell out every game in the Superdome last season—a franchise first—but they now have a waiting list of more than 32,000 for season tickets. On top of that, all 137 luxury suites—ranging between $40,000 and $148,000—have been leased for the 2007 season. “Disasters clarify what’s really important,” says Benson LeBlanc. “Katrina made us expand our relationships with groups and businesses, and focus on inclusion. People responded and came together.”

Benson LeBlanc collaborated on the creative financing plan that bankrolled the Dome’s face-lift. The state put $165 million into improvements and upgrades long sought by Benson, who chipped in $15 million of the N.F.L.’s $20 million share.

Alas, the 32-year-old Superdome is the sixth-oldest facility in a league in which team value is tied to stadiums. According to Robert Baade, president of the International Association of Sports Economists, stadiums account for between 17 and 25 percent of the values of the five most lucrative N.F.L. franchises. The bottom five, he says, draw between 7 and 11 percent from their stadiums. Of those top five teams, none play in stadiums older than 10 years. Of the bottom five, only the Atlanta Falcons occupy a facility that is less than 25 years old. The biggest media markets don’t necessarily have the most valuable teams: The New York Giants and Jets rank 15th and 19th in value, respectively. The 31-year-old stadium they share, the Meadowlands, is an economic Jurassic Park.

Two years ago, the Saints ranked last among the 32 franchises in operating income—$9.1 million behind the next-­lowest team, the Seattle Seahawks, and $112.9 million behind the leader, the Washington Redskins. Much of the disparity derived from revenue that was not shared, such as the proceeds from luxury suites. While the league divides gate receipts 60-40 between the home and visiting teams, luxury-box revenue is exempt. “Benson knows he can make a whole lot more money moving somewhere else,” says Matheson. “If Los Angeles erected a state-of-the-art stadium, many teams would be tempted to relocate there. The Saints would be first in line.”

With another N.F.L. campaign kicking off, the team’s prospects are as promising as Mardi Gras. Last season—buttressed by a dynamic new coach (Sean Payton), quarterback (Drew Brees), and running back (Reggie Bush)—the Saints went from worst to first in their division and finished one victory away from the Super Bowl. “The Saints came back from the trauma of Katrina a better team,” says Kevin Wildes, president of Loyola University New Orleans. “They’ve become a serious symbol of renewal for the people of New Orleans.”

They also became a serious symbol of merchandising. In 2005, the Saints were 29th among N.F.L. teams in sales at nflshop.com, the league’s e-commerce site. Last season, they climbed to seventh.

Still, the team’s turnaround does not increase its chances of staying in New Orleans beyond 2010. “The Saints’ current success and good won-lost record would certainly help with fan support and team economics,” says former N.F.L. commissioner Paul Tagliabue. “But that wouldn’t necessarily mean the Saints are viable long-term. The macroeconomics of the region would be most important.”