: News Article:
New Arena deal agreed to by city and Katz group:mod warning #616
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05-13-2013, 12:57 PM
Join Date: Apr 2007
Originally Posted by
And at that point you tell him that there will be no help coming from the government and that he needs to find other avenues to cover those losses. This is why it's crucial to have a lengthy agreement in place that if it gets built that the team cannot move.
As others have points out lengthy agreements get tossed out the window at the 1st sign of trouble. The city and Peter puck had many lengthy agreements that got 'modified'.
I've maintained one of the biggest problems with this deal is the city owning the rink and not Katz and crew. If Katz and crew owned the arena then they have a huge asset they have to deal with. They don't so he and the team is not tied down at all. To top it off the 'agreement' is conveniently for 35 years. The exact time when major life cycle components often need to be replaced.
At the end of the lease the owner, whoever it may be, Katz's kid perhaps will simply tell the city to fix up their stinky old rink or we are moving. This is after the Oilers taking almost all the profits from the rink for the past5 35 years.
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