Drew Brees suing former teammate Kevin Houser over tax credits
Saints quarterback Drew Brees filed suit against former teammate Kevin Houser in federal court in New Orleans on Monday in connection with a failed tax credits plan.
The suit, of which PFT has obtained a copy, alleges that in 2008, Houser brokered the sale of Louisiana tax credits for Louisiana Film Studios, LLC to Brees, with the quarterback paying $160,000 for $200,000 in tax credits. However, the suit alleges the money was “wasted, converted and dissipated by LFS and/or others.”
Houser, the suit alleges, did not inform Brees that he received a commission on the sale of the tax credits. Also, Houser is alleged to have not disclosed that his construction company was owed money by the film company.
The suit also alleges the money for the tax credits went into the film company’s operating account, not escrow. What’s more, Houser is alleged to have known that the film company did not have the money to buy the film credits, which Houser ultimately “has failed to deliver,” per the lawsuit.
The suit seeks “full restitution” for Brees as well as other damages.
The Associated Press first reported news of Brees’ lawsuit on Monday. The AP also reported that former Saints defensive coordinator Gary Gibbs and tight end Jeremy Shockey settled with Houser Monday.
Houser, 35, was the Saints’ long-snapper from 2001-08.