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07-13-2011, 10:44 PM
  #29
Kind of Blue
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Quote:
Originally Posted by Noreaster96 View Post
Unfortunately it isnt quite this simple... With the Lighthouse Project it was all going to be privately funded...however that was shot down by politics as usual. The thing is that there is risk involved, which noone can deny. There is, indeed, a greater risk to simply build only a colisseum. The thing was, when the lighthouse plan was in play, the risk was less for Wang because, even though he was paying, the additional revenue from other sources on the project would make the risk worthwhile. Without this extra development comes extra risk, which is why Wang probaly sees this deal as more of a wash (in terms of pure risk) with the lighthouse project since his initial investment is lower
More specifically, Wang's initial investment here is zero. That is one of the most disappointing aspects of the deal. He should be making at least some contribution upfront.


Quote:
Originally Posted by Noreaster96 View Post
If you havent yet had a chance to read this, take a quick glance at it (specifically page 4 where it lays out the numbers, maybe if it shows something it might change your mind. If you have seen this then I apologize in advance)

http://islanders.nhl.com/v2/ext/HUB%...PROJEC_001.pdf
I hadn't seen the EIA, thanks for that. Unfortunately, I don't see anything that changes my opinion. It is also important to note that EIAs involved a host of assumptions, rely heavily on information provided by the developer, are generally understood to be biased in favor of the developer.

Having said that, I have to give some credit to Camoin for at least adjusting down some of the initial projections the Islanders provided them. The funniest one was the Islanders projected six home playoffs games per season! (Page 10)

Also, are the Islanders really planning an average ticket price around $60 to $64? What are they charging now?


Last edited by Kind of Blue: 07-13-2011 at 11:06 PM.
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