: News Article:
Balsillie back in the bidding
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08-07-2009, 12:13 PM
Join Date: Apr 2009
If you have no problem with the government
giving Balsillie a virtually new state-of-the art venue for free
especially in this economy then I guess there is no use chatting about this. Personally I have a huge problem with it !!!
what are you talking about?? the city owns Copps...Balsillie won't.
The levels of govt will decide if they will fund the bigger expediture (180mil), and if they didn't, Jim would just build his own arena near Kitchener. Ask Florida how much money they make from their building and complex...they certainly don't make money from ticket sales...but that's why the Panthers will never leave...the owners make a ton on parking, concessions, and other events from the site area...which they keep as a separate company so they can say the team loses money, thus they get handouts from the league...but with the other hand, they are making lots.
If you have a problem with public funding of arenas, talk to your MP or MPP if it gets that far and oppose it....but they are likely to give him that money...if not, he builds his own arena, closer to his house...and in the long run, he'll make lots of money...and he can use corporate money (RIM) to help finance it.
but if he was playing in Copps, and the govt said no to the long term uprgrade of Copps...he wouldn't spend his money on an arena in Hamilton; it will be close to Kitchener-Waterloo.
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