: News Article:
New Arena deal agreed to by city and Katz group:mod warning #616
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05-12-2013, 06:03 PM
Join Date: Apr 2005
Originally Posted by
Something is generally not considered bizarre when it is the norm. And this is the norm in todays sporting world
Well it is bizarre, perhaps we've just become accustomed to it in the pro sports world.
For an owner fronting zero bucks into a 600M arena, having all revenues from all events and getting stipends on top of that like naming rights, 2M payback per year for advertizing and not paying a dime of taxes on facility because he's not the *owner* is a little bizarre. Considering a hockey and entertainment mad market that promises to keep the arena buzzing with gate revenue and ticket sales of a magnitude seldom seen anywhere on the planet katz is making out like a bandit..
Too bad Katz didn't get the 6M annual subsidy he was demanding on top of this as he wasn't yet satisfied bending the city over. Oh gawd, how will Katz survive this deal..
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