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-   -   Nationwide Arena/CBJ Finances Discussion II (http://hfboards.hockeysfuture.com/showthread.php?t=965201)

Fro 08-07-2011 12:00 PM

Nationwide Arena/CBJ Finances Discussion II
 
PHT weighs in based off Dispatch article

http://prohockeytalk.nbcsports.com/2...m-in-columbus/

Fred Glover 08-07-2011 12:04 PM

I don't normally mix religion into the discussion, but this being a Sunday, and having just read the Dispatch article, I was reminded of Thomas' response on Easter:

John 20:25

I will believe it when I see it.

BluejacketNut 08-07-2011 12:15 PM

Well, the answer to the problem is in the name of the arena. Nationwide is the one that needs to restructure the lease, theyre the ones that stand the most to lose with an empty arena

pete goegan 08-07-2011 12:18 PM

Quote:

Originally Posted by BluejacketNut (Post 35735597)
Well, the answer to the problem is in the name of the arena. Nationwide is the one that needs to restructure the lease, theyre the ones that stand the most to lose with an empty arena

I'm in emphatic agreement, BjN!

Fro 08-07-2011 12:20 PM

Quote:

Originally Posted by BluejacketNut (Post 35735597)
Well, the answer to the problem is in the name of the arena. Nationwide is the one that needs to restructure the lease, theyre the ones that stand the most to lose with an empty arena

Quote:

Originally Posted by pete goegan (Post 35735645)
I'm in emphatic agreement, BjN!

thirded

BJfan 08-07-2011 12:36 PM

Don't really want to think about it but I wonder what would happen to PSL holders if CBJ move? Has a pro sports organization with a similiar PSL type program ever moved?

Jaxs 08-07-2011 01:46 PM

Here is the latest from one who has followed closely:

http://tenminutemisconduct.com/2011/...n-arena-issue/

joshjoshjosh 08-07-2011 01:54 PM

Good, now sell the building out and win some ****ing games

Fred Glover 08-07-2011 03:49 PM

Quote:

Originally Posted by Jaxs (Post 35737463)
Here is the latest from one who has followed closely:

http://tenminutemisconduct.com/2011/...n-arena-issue/

I would agree with this assessment. It SEEMS as if the mayor and council president realize the importance of getting something done. That being said, they need to wrap this up quick. If they do, what an offseason! Carter, Wiz, and the lease? But then again, I will believe it when I see it.

LetsGOJackets!! 08-07-2011 04:17 PM

I have my fingers crossed on this
 
alright then, the moving part definitely got my attention, but at least the higher ups in govt., have come out publicly and said they are working on solutions. Ten Minute Misconduct does have some points that the comments made by Coleman & the board President show that they are looking for solutions.

Mac Jr's comments that the hockey needs to take care of itself couldn't be more true.

CBJWennberg10 08-07-2011 07:27 PM

Soo, I don't understand. Is this bad or good? And if bad/good explain why please.

Vatican Roulette 08-07-2011 07:36 PM

Quote:

Originally Posted by CBJBrassard16 (Post 35744887)
Soo, I don't understand. Is this bad or good? And if bad/good explain why please.

http://www.dispatch.com/content/stor...kets-here.html

( I didn't see a link to the article)

It doesn't sound good. Could just be an owner trying to get exposure for the problems the team is having, but the "moving" part of the article is what I don't like.

I like Columbus just where they are.

pete goegan 08-07-2011 08:00 PM

Quote:

Originally Posted by CBJBrassard16 (Post 35744887)
Soo, I don't understand. Is this bad or good? And if bad/good explain why please.

Follow the link Jax provided to TenMinute Misconduct, he has a pretty good grasp of the issue. In fact, if you want a deeper understanding, TMM has a link to a three-part examination of it that is very helpful.

CBJWennberg10 08-07-2011 08:13 PM

The moving part scared me.

Samkow 08-07-2011 09:04 PM

3 Points

1. This article sent me into CC mode. Since day one, this situation has been an epic fail on the Blue Jackets part. Didn't the team deny (on multiple occasions) that they were considering asking for any tax-based solution to the problem? This has been an ongoing problem for awhile. Why are they picking NOW to start trying to push a public money solution to the problem?

2. Ultimately, I believe the casino revenue option is the only way it gets done. If Nationwide had any interest in renegotiating the terms of the lease, this wouldn't have dragged out 2 years.

3. Ultimately, I think the team will be able to force the casino solution through. But my greatest fear is that in doing so, they'll alienate a huge chunk of the market. The reality is, tea partying is very chic right now. These people have no interest in having a cent taken out of their monthly paycheck, even if the benefits far outweigh the cost.

LetsGOJackets!! 08-07-2011 09:20 PM

Read some of the comments Sam
 
Quote:

Originally Posted by Samkow (Post 35747351)
3 Points

3. Ultimately, I think the team will be able to force the casino solution through. But my greatest fear is that in doing so, they'll alienate a huge chunk of the market. The reality is, tea partying is very chic right now. These people have no interest in potentially having an extra $0.04 taken out of their monthly paycheck, even if the benefits far outweigh the cost.

There are already a number of people talking about the Casino money being earmarked for schools, & road repair. Joe public will not be happy with some of the money being used to pay for a private facility. The issue here is that it can be done by the govt. powers that be, without requiring a vote to occur. The Blue Jackets have revitalized downtown.. win and it will all get done.

Palinka 08-07-2011 09:40 PM

It's really simple. OSU fans are a bunch of gibbering simps; I don't know if I mean "simpletons" or "of simian descent", so maybe it's both. Certainly, both apply.

I look at this as a shot across the bow from the CBJ end. Let's go through the basics.
- Columbus and Franklin County sold the land that Nationwide Arena ended up on at a huge discount. Oh wait, no they didn't.
- Columbus and Franklin County chipped in all sorts of tax breaks and incentives to put an NHL team here. Oh wait, that didn't happen either.
- Columbus and Franklin County do not directly own a minor league baseball team or the stadium where their home games or played. Wait, that's not true either.
- Columbus and Franklin County did not directly fund building of a new ballpark for said team without a public referendum on the issue. Oh, wait....
- Columbus and Franklin County did not float $15 million to OSU as part of an alleged "feasibility study" on whether or not Value City Arena should be built. Money, I might add, that has not been paid back and never will be. Huh?
- Columbus and Franklin County never concocted an idiotic alternative transit system that would have been paid for with a $4 per ticket surcharge on either CBJ games only or all events only at Nationwide Arena. Oh, guess what, that's not true either.

The powers-that-be in this are rightfully pissed. The city of Columbus and Franklin County have blocked the door every step of the way, and that crap is going to stop. There's been huge amounts of money laid out to all sorts of other projects, including a couple that act as direct competition, and yet the only major pro sports team is supposed to sit there and take it? Come on.

Also, as an aside, **** OSU. That's not really an aside, those are words to live by.

Fred Glover 08-07-2011 09:55 PM

Let's wait to see how this all plays out before we start jumping off of the Main Street Bridge. Certainly there are those, Tea Party and others, who do not want their taxes raised no matter what. There are also those who are against any type of $$$ going to the Jackets. So be it. Yes, the team can move and if nothing gets done has every right to move. But what I gleaned from the article is this:

The mayor and Council President get it, in that the Jackets bring a lot of $$$ downtown. If they leave, who fills the void? The answer is no one. The NBA isn't coming here. Jobs will be lost, and a vibrant area will become close to a ghost town. The mayor even noted how difficult it is to fill vacant buildings (City Center and Lazarus). The powers that be know how valuable the Jackets are. Even though there are vocal people saying "let them move" there are those who have seen what has happened and what CAN happen with a winning team. So let's wait and see how this plays out.

I am not overly concerned. After hearing for years that the Indians were moving, having the Browns move, seeing LeBron leave, I have seen it all ( but a championship) in Cleveland. I have learned that these things usually work out. So just rest easy. Worrying isn't going to add impetus to get this done. From what I read today, I am optimistic. They wouldn't have put it in the paper if it wasn't close. I think it is. So enjoy the summer. There will be enough to worry about when the Jackets hit the ice.

Pucknacious 08-07-2011 09:55 PM

Just read this before logging in - needless to say, it put a damper on what had been a pleasant weekend. Personally, I found it hard to read the piece and not come away without a sense that this marked the begining of the end.

gonz 08-07-2011 10:40 PM

I either must be naive or really dumb because I didn't get any negative vibes from the article. Yes, there's doom and gloom in it but there's no imminent threat. It sounds like Lil McConnell is just putting the relocation out there simply to emphasize to the government and its constituents how important it is to get something done. At the end, though, that sounds like something that's not going to happen this year or next or even the year after that. If anything, you know dern tootin' that Bettman isn't going to let the Jackets go without a fight.


Quote:

Originally Posted by Palinka (Post 35748281)
Also, as an aside, **** OSU. That's not really an aside, those are words to live by.

Quoted for truth. :)

Sore Loser 08-07-2011 11:50 PM

Quote:

Originally Posted by BluejacketNut (Post 35735597)
Well, the answer to the problem is in the name of the arena. Nationwide is the one that needs to restructure the lease, theyre the ones that stand the most to lose with an empty arena

Quote:

Originally Posted by pete goegan (Post 35735645)
I'm in emphatic agreement, BjN!

Quote:

Originally Posted by Fro (Post 35735665)
thirded

fourth'd (is that even proper English?)

Viqsi 08-08-2011 12:01 AM

Quote:

Originally Posted by gonz (Post 35749737)
I either must be naive or really dumb because I didn't get any negative vibes from the article. Yes, there's doom and gloom in it but there's no imminent threat. It sounds like Lil McConnell is just putting the relocation out there simply to emphasize to the government and its constituents how important it is to get something done. At the end, though, that sounds like something that's not going to happen this year or next or even the year after that. If anything, you know dern tootin' that Bettman isn't going to let the Jackets go without a fight.

Meh. I feel exactly the same way. My sole point of disagreement has to do with OSU, but, well, by now I expect to be the odd one out on that issue around here. ;)

CBJWennberg10 08-08-2011 12:08 AM

So let me try and get this right. The cbj are 'close' to an agreement that will help out on the teams lelase issue? Or they are close to an agreement to help out with the financal struggles and stilll have the lease issue problem.

pete goegan 08-08-2011 07:00 AM

Quote:

Originally Posted by Viqsi (Post 35751663)
Meh. I feel exactly the same way. My sole point of disagreement has to do with OSU, but, well, by now I expect to be the odd one out on that issue around here. ;)

One can be a fan of OSU sports and still despise how the University is run and the negative impact it has on anything that get in the way of it's own plan. At least, I can.

Double-Shift Lassé 08-08-2011 08:24 AM

http://www.dispatch.com/content/stor...kets-here.html

Quote:

Because Nationwide Arena was privately funded — a rarity in major-league sports today — the Blue Jackets do not draw revenue from naming rights, parking and luxury boxes at the same rate as other NHL clubs.

(snip)

“The only support we’re asking for is fixing the lease. We’re not asking for money to run the team. We’ll live and die on whether we can win hockey games and whether we can bring people into the building,” McConnell said. “Right now, I’m feeling very confident that we can resolve these issues and move forward for ourselves, for our fans and for the city.”

“This is not a situation that arises from or results in subsidizing the team. The arena burden — which is what I’ll call it — is too much for the Blue Jackets or any team to sustain in the long term." (Bettman)
Here's what I'd like to know.

The issue has been the lease since the team's dicey financial situation hit the public consciousness a couple years ago. The lease is primarily with Nationwide (90% owners of the arena), yet the solutions put forth seem to revolve around public financing. So...

Help me understand the revenue generated by the lease and by the real estate development that has taken place in the Arena District. I would think Nationwide would have a substantial interest in maintaining the CBJ as primary tenant in the centerpiece of its development, but that hasn't materialized (yea, I know they've let the team forego payments, etc.). Why not? Maybe Nationwide does not (somehow) stand to lose a significant amount of money should the team move. Maybe Nationwide is holding out that public money will save it from having to renegotiate the lease.

http://www.dispatch.com/content/stor...race-redo.html

Quote:

What is more, Nationwide, which has eased the Jackets’ arena rent in the past, may do even more on that front.
That's pretty nebulous.

This sounds like a game of chicken between public officials and Nationwide as to who's going to cave first to commit money to aid the CBJ.


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