Edmonton rejects Oiler [Arena] bid for more taxpayer dollars
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09-20-2012, 12:01 AM
Join Date: Dec 2008
Originally Posted by
Lifelong Edmontonian here...
This whole mess could be easily solved if Mr. Katz would allow the use of PSL's, whereby private citizens would buy the rights to their seat for X years by way of a lump-sum payment up front. This method has been used countless time by NFL owners, & while I think it's repugnant, it does generate the necessary capital that would be needed to build, or partially build, an arena/stadium.
However, Mr. Katz has declined to entertain this option, because it would mean taking away future revenues from his pocket, & why use your own money when someone else's will do?
PSL would still be the same thing based on your logic. Given that its not really followed outside of the NFL, that tells enough about how useless PSLs are.
Oh, & you might want to think about this tidbit... Katz ain't as rich as he makes himself out to be. Back in 2009, CIT Financial declared bankruptcy - guess who they helped purchase a local hockey team with a $200M loan? You may have money, but you're always someone's *****.[/QUOTE]
He recently sold one of his business for $920 Million, you would be wrong.
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