: News Article:
New Arena deal agreed to by city and Katz group:mod warning #616
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05-12-2013, 02:25 PM
Join Date: May 2007
Originally Posted by
Behind Enemy Lines
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.
Something is generally not considered bizarre when it is the norm. And this is the norm in todays sporting world
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