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EJ: Edmonton city closer to arena deal with Katz group

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01-22-2013, 01:26 AM
  #1
LadyStanley
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EJ: Edmonton city closer to arena deal with Katz group

http://www.edmontonjournal.com/sport...804/story.html

Quote:
The framework was hammered out Friday at a meeting attended by Oilers owner Daryl Katz, Mayor Stephen Mandel, city manager Simon Farbrother and NHL commissioner Gary Bettman.

“From what I understand, the meeting was positive,” city councillor Bryan Anderson said Sunday. “Details will be presented by the city manager in public on Wednesday, after which council will decide if it is a good enough deal to accept.”

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01-22-2013, 06:45 AM
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And Daryl? If Edmonton city council accepts this deal, try to zip it this time...


Last edited by Evil Doctor: 01-22-2013 at 08:42 AM.
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01-22-2013, 08:13 AM
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Confucius
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I never realized that Bettman actually got involved and attended such meetings.

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01-22-2013, 08:44 AM
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Quote:
Originally Posted by Stix and Stones View Post
I never realized that Bettman actually got involved and attended such meetings.
I don't think that the commish gets involved until things start going off the rails. If Katz and the city were doing fine on their own all along, I'd doubt Bettman would be present. But because negotiations did become strained along the way, he came in to provide some backup.


Last edited by Hank Chinaski: 01-23-2013 at 12:45 PM. Reason: OT/not needed
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01-22-2013, 12:16 PM
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tony d
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Could be good news. Would be a shame if the Oilers ever left Edmonton.

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01-22-2013, 12:19 PM
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From an Edmontonian, it's about damn time. Shovels in the ground boys!

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01-22-2013, 12:22 PM
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Quote:
Originally Posted by Stix and Stones View Post
I never realized that Bettman actually got involved and attended such meetings.
Are you kidding. New arena deals are a commissioner's raison d'ętre, and lie at the heart of franchise success or failure, directly impacting the profitability of the league (ie, the key evaluation criteria in a commissioner's job performance review).

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01-22-2013, 01:35 PM
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Originally Posted by Evil Doctor View Post
And Daryl? If Edmonton city council accepts this deal, try to zip it this time...
oh come on ... what fun would that be?

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01-22-2013, 08:13 PM
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Good, though let's hope that they don't try to pull a Maloof.

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01-22-2013, 09:04 PM
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any word on where the last $100 million is coming from?

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01-23-2013, 02:01 AM
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Quote:
Originally Posted by JawandaPuck View Post
Are you kidding. New arena deals are a commissioner's raison d'ętre, and lie at the heart of franchise success or failure, directly impacting the profitability of the league (ie, the key evaluation criteria in a commissioner's job performance review).
Frankly I believe it's the reason that Bettman stuck around Phoenix so long.

Arena announcement expected tomorrow as completed.

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01-23-2013, 12:32 PM
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sunterryjones 9:26am via Twitter for BlackBerry® At City Council where Eberle, Hall, Horcoff, N Schultz and Smyth are in pews. But no Daryl Katz. Simon Fairbrother up detailing deal.


sunterryjones 9:27am via Twitter for BlackBerry®
Did I say deal? Proposed negotiated framework.


(Guessing Jones will be the guy to follow today for blow-by-blows from council meeting.)

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01-23-2013, 12:40 PM
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Sounds like Bettman told Katz to zip it and accept the original deal which has now increased by $30 million (to be split equally by the city and Katz Group).


Last edited by Hank Chinaski: 01-23-2013 at 12:45 PM. Reason: qep
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01-23-2013, 01:03 PM
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Let's just wait and see the details first. If the taxpayers are still going to be on the hook for the vast majority of this deal, then it's still a sham and I will continue to voice my disapproval of it, as a tax-paying citizen.

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01-23-2013, 01:04 PM
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http://www.tsn.ca/nhl/story/?id=414279
Quote:
City bureaucrats, who have been negotiating with team owner Daryl Katz (KATES), are recommending a deal to build the arena and surrounding infrastructure for $601 million.

Edmonton taxpayers would pay $219 million to go with $143 million from Katz and $125 million from a ticket surcharge.

Even if approved, the deal would still be $114 million short.

Both sides are hoping the provincial government will contribute that amount, but Premier Alison Redford has repeatedly stressed there will be no direct funding for a private enterprise.

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01-23-2013, 01:06 PM
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Originally Posted by LadyStanley View Post
Ah well, sounds like this is far from over anyways.

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01-23-2013, 04:01 PM
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Voting happening soon

http://www.cbc.ca/sports/story/2013/...live-blog.html

Based on verbal comments so far it's leaning 7-2 in favour.

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01-23-2013, 04:25 PM
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Originally Posted by Mightygoose View Post
Voting happening soon

http://www.cbc.ca/sports/story/2013/...live-blog.html

Based on verbal comments so far it's leaning 7-2 in favour.
Final vote was 10-3 in favour and the Mayor stating he was very certain the Province will fund the remaining $100 million.

Now, Katz better not try to change the deal again.

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01-23-2013, 04:26 PM
  #19
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Edmonton taxpayers are still getting screwed in this deal.

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01-23-2013, 04:28 PM
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Quote:
Originally Posted by Puckschmuck View Post
Edmonton taxpayers are still getting screwed in this deal.
Not a single Edmonton tax dollar is going into the deal.

So, how are tax payers getting screwed? Or do you not know what the deal entails?

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01-23-2013, 04:46 PM
  #21
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@Sportsnet

#Oilers, City of Edmonton reach deal to build new downtown arena. http://www.sportsnet.ca/hockey/2013/...uild_new_deal/

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01-23-2013, 04:56 PM
  #22
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Quote:
Originally Posted by FakeKidPoker View Post
@Sportsnet

#Oilers, City of Edmonton reach deal to build new downtown arena. http://www.sportsnet.ca/hockey/2013/...uild_new_deal/
Great to hear for the city of Edmonton and my friends there.

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01-23-2013, 05:03 PM
  #23
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Quote:
Originally Posted by cyril View Post
Not a single Edmonton tax dollar is going into the deal.

So, how are tax payers getting screwed? Or do you not know what the deal entails?
From what I read, the deal still requires Edmonton taxpayers to pay over 200M for the project, and is still short 100M which they are hoping to get from the province. The city will own the building but get next to nothing in return from the profits of the arena's use. Is this correct or not?

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01-23-2013, 05:07 PM
  #24
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Quote:
Originally Posted by Puckschmuck View Post
From what I read, the deal still requires Edmonton taxpayers to pay over 200M for the project, and is still short 100M which they are hoping to get from the province. The city will own the building but get next to nothing in return from the profits of the arena's use. Is this correct or not?
The 200 Million is coming from a downtown Community Revitalization Levy which will be taken from property tax dollars of NEW developments in the downtown area that spring up as a result of the arena and other recent developments downtown.

The 100 Million from the Province will most likely be coming from a gambling revenue scheme that was released by the opposition party a few weeks ago.

The city actually passed a law four years ago stating that Edmonton public tax dollars cannot be used to finance the arena and that still holds true today.

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01-23-2013, 05:20 PM
  #25
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Quote:
Originally Posted by cyril View Post
The 200 Million is coming from a downtown Community Revitalization Levy which will be taken from property tax dollars of NEW developments in the downtown area that spring up as a result of the arena and other recent developments downtown.

The 100 Million from the Province will most likely be coming from a gambling revenue scheme that was released by the opposition party a few weeks ago.

The city actually passed a law four years ago stating that Edmonton public tax dollars cannot be used to finance the arena and that still holds true today.
Seems kind of contradictory to me. Semantics works well in this case.

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