Panther's arena had net income of ~$90mm from 1998-2008
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12-10-2012, 04:27 PM
No Fun Shogun
Join Date: May 2011
Location: Chicagoland, IL
Originally Posted by
Sure, but I care. My team is trying to get a new arena, and I would prefer my city not to have to accept a bad deal to get it.
Bottom line to me - if you own an NHL team, it should either be feasible to lease an arena at a rate where both you and the arena managers make profit, or privately build and debt service an arena with the money from the team and other events, with some money left over for profits.
There is probably some room for public subsidies, since I think these projects can benefit cities, but it shouldn't be required at the levels that it seems to be.
Like I said, the business model doesn't seem sustainable, and seems to require 'legacy project' thinking on the behalf of city councils to actually occur.
That's nice and all, but you're not arguing from a logical standpoint from the owner's/league's perspective. If they can get someone else to pick up the check, or someone else to give up the rights to something, then it's in their best interest to do so like any business.
Certainly may be bad in the long run from the locals, much as I think that the deal that's on the table will absolutely wreck Glendale before it's all said and done, but it's an extremely good deal for the league and Jamison, so props to them for negotiating it. Same goes for the Panthers' arena deal, the deal that looks to be passing the Michigan state legislature for the Wings' new arena, and just about any other arena/stadium plan you can imagine that has gotten public monies or other forms of public support. It being bad for others isn't on the radar for the team owners and league, so it's not really reasonable to expect anyone to suddenly back away from that unless they absolutely have to.
There might very well be deals that are beneficial to both sides, but why stop at an arm if the owners/league can get a leg, too?
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