: News Article:
New Arena deal agreed to by city and Katz group:mod warning #616
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05-10-2013, 10:48 AM
Join Date: Jul 2010
Originally Posted by
So you don't consider the $145M to purchase the Oilers, along with a $100M investment into the arena "not a single dime"? Yet you're parading around complaining about nickles and dimes that come from the taxpayers pothole fund it's going to take to complete it?
Purchasing the team is not an investment in the building unless he wants to put up part ownership in the team as stake in the building. His investment in the building is an agreement to pay rent, does it really make much sense for the city to invest $500 million + dollars to make back $146.5 million over 35 years?
It looks like the city is taking all the risk and making all the commitment to this team for minimal benefit. There is a deal to be worked out here but this looks to be incredibly beneficial to Katz whereas selling or moving looks to be a tricky proposition at best. The city shouldnt let Katz dictate the terms of the deal, if it makes sense then do it but he will still be better off making a deal here than he will elsewhere.
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