: News Article:
New Arena deal agreed to by city and Katz group:mod warning #616
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01-28-2013, 03:10 PM
Join Date: Apr 2005
Originally Posted by
He also thought that the ticket tax was a new thing created just to (in his words) "allegedy" help pay for $125 million of the arena costs. That is, until i pointed out that there had been a ticket tax going to the owner(s) of the Oilers since Peter Pocklington.
Do you think he acknowledged it when i pointed it out? I'll give you one guess...
Are you still on about this?
Do you note the DEGREE of ticket tax involved?
The new tax is designed to recover 125M in front outlay on this project. Just servicing debt on that is going to take 4-5M/yr. Actually having it pay off any principal is going to take a surcharge levy of about 7-8M/yr. Which is over 10% of current gate. This assuming sold out games and people willing to pay the piper in an expected downturn economy.
The current tax is negligible and built in. Its less than even the ticketmaster charges. The new ticket surcharge will be 10 or more bucks. On top of already higher priced tickets.
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