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01-28-2013, 04:00 PM
Have a McDavid day!
McBooya42's Avatar
Join Date: Jun 2010
Location: Edmonton
Country: Canada
Posts: 4,416
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Originally Posted by Replacement View Post
The current tax brings in approximately 2M/yr. as per an article on Friday.

This is a fraction of what the new surcharge must bring in.
You're misreading Replacement. That 2 million that Northlands gets is only part of the total, and was used for maintenance of the building.

During negotiations, the Katz Group dropped its demand for a non-compete clause to shut Northlands out of the concert business. But in exchange, the city agreed to enforce the same ticket tax on both arenas, about seven per cent. While the tax at the new downtown arena will go to paying off $125 million in debt and covering $1.5 million in annual capital maintenance, tax from Rexall Place will go directly to the city’s general operating funds.
Here's a quote that you missed..(sorry ignored) the last time i showed it to you:
Originally Posted by Replacement View Post
We're not talking ticketmaster here we're talking ticket tax. The one allegedly funding 125M of the building price. Not sure if we're on the same page here.
I'm not talking ticketmaster either lol..

In 1998 Pocklington hatched a plan to move the struggling Oilers to Houston.
The NHL franchise was only saved when a group of local investors, Cal Nichols and the EIG, stepped up to buy the team, then worked out a new lease deal with the city on extremely favourable terms.
The new deal saw the EIG pay $1 per year for rent (plus about a million per year to Northlands for game expenses). At the same time, the EIG got to keep the ticket tax collected at Oilers games, which now amounts to about $4 million dollars a year. This money goes straight into the Katz Group’s coffers.
2 Million a year huh? So the ticket tax in 2012 is making less than in 2007? Notice the bolded italics? I'm assuming that's where Northlands was getting the $2 million a year from - paid by the ticket tax.

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