: News Article:
New Arena deal agreed to by city and Katz group:mod warning #616
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01-28-2013, 02:22 PM
ლ(ಠ益ಠლ) What the...
Join Date: Jun 2010
Originally Posted by
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.
I heard that it won't exceed 7%. -Shrugs-. Oh well, as it won't be much more than it already is and has been for about the past 20 years or so (percentage wise). The EIG group were getting 4 million a year from it, so take from that what you will.
Another $125 million will come from a ticket tax that wouldn't exceed seven per cent of the total cost of a ducat.
Holy crow! Not exceeding 7%...what a DEGREE of a ticket tax!
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