The New Orleans Saints and the state have announced a new partnership that will continue the club’s commitment to the state through 2025 and also create a new Sports Development District.

The new deal includes the NFL team’s owner, Tom Benson, and his family purchasing and redeveloping the New Orleans Centre and Dominion Tower. The two properties, next to the Louisiana Superdome, have sat largely dormant and in disrepair since Hurricane Katrina.

The new agreement was announced Thursday at a New Orleans news conference.

Gov. Bobby Jindal said that, compared to the current agreement with the Saints, the new deal will save the state more than $280 million over the next 17 years. Jindal said no new taxes will be required to fund the new agreement.