: News Article:
Balsillie back in the bidding
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08-07-2009, 12:43 PM
Join Date: Mar 2002
Originally Posted by
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
, concessions, and other events from the site area
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
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.
Where did I ever say that Balsillie would own Copps, I said he was getting the use of a venue for virtually nothing.
And are you suggesting that Balsillie will walk from Copps and his 32 year lease if the governments don't fund his play-pen?
And are you suggesting that RIM a publically traded company is going to enter the scene? I'm really laughing at that one !!!!!! (RIM is 1/2 the price it was 1 year ago and that little adventure would slam the stock into oblivion)
And my all-time favourite, parking. How big a parking lot do you need to to make money ? Show me the math !!!!
And re your statement about holding the arena in a seperate company so the hockey team loses money ensuring hand-outs, really shows you do not understand either basic accounting, law or how revenue sharing under the CBA is calculated.
If you think anyone can make money by paying 212 million U.S., then pay a re-location fee then build a 250 million dollar arena then welcome to the world of Arthur Anderson and Enron !!!! Once again show me the math on how he is going to make lots of money.
Last edited by Northern Dancer: 08-07-2009 at
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