: News Article:
New Arena deal agreed to by city and Katz group:mod warning #616
View Single Post
05-12-2013, 02:08 PM
Behind Enemy Lines
Join Date: Feb 2003
Location: Calgary, Alberta
Originally Posted by
well, fair enough. i agree it is distasteful to see Katz continually trying to squeeze a public the way he would handle a takeover with London Drugs.
His needing all the profits from the arena is probably the part that bothers most people. I believe he needs this to compete in the NHL. this is more a function of the messed of economy that is pro-hockey then anything else. I don't believe katz is trying to bamboozle us, he is in a league inwhich many owners take monies from their other businesses and over-pay players with said monies. the actually revenues of the NHL do not warrant 2mil/year for the Mark Fistrics of the world.
sadly, if we want NHL in our outpost, small city (Edmonton is the Omsk of North America) we will have to give Katz a sweet deal. we can haggle a bit and try the best we can, but in the end, we will not get a 50-50 split. just my opinion
He was just part of a labour war over a $3.3 billion pie. A second within ten years designed to implement a salary cap to ensure parity cost wise for all teams. It is irrelevant what Edmonton pays Fistric a strange point you may several times. All teams have a cost floor and ceiling. How they choose to distribute the wealth their prerogative. That they can't help themselves to overspend is a recurring issue and no reason public purse should be involved.
Your point is beyond flimsy for subsidizing a $3.3 billion entertainment industry.
Billionaires are the first to decry the free enterprise system when cutting jobs and gaming the stock market. Sadly they are also first to manipulate public will for subsides such as arena debates in North America.
Katz has one of the most profitable NHL franchise in monopoly conditions on the backs of ticket buyers. Now he's being given the keys to the kingdom with abroad new arena, ridiculous concessions including all revenue streams for all events therein inclusive of naming rights, other advertising, concessions, and parking. I say again for ALL events not just Oilers hockey.
There is no risk to him and anyone who thinks über competitive markets like Seattle would bare these high ticket prices and sell merchandise like Edmonton are simply delusional.
Katz stalked the previous ownership to buy this team. He knows the existing ROI and public sentiment around this team to curry up an amazing revenue machine based on the gullibility that other municipalities have been shown to do.
And we should place the issue at the feet of hockey scrubs like Mark Fistric trying to carve out his value on the short time he has to earn ludacrise money as an 'entertainer'?
A new rink may be needed. A new rink for the prime tenant who gains all control of revenue and its operations is just bizarre.
EDIT: a takeover of London Drugs would be more contentious as private shareholders fight tooth and nail for direct return on their investment. For an arena, wrapped around a city's virtual blind love of its sports team, he's waged a PR battle on this sentimentality with one part threat to move, fear of being unable to compete, and spurious economic value the team brings this city and non measurable prestige for having an NHL hockey team.
Last edited by Behind Enemy Lines: 05-12-2013 at
Behind Enemy Lines
View Public Profile
Behind Enemy Lines's albums
Find More Posts by Behind Enemy Lines