[ogre2010]

Originally Posted by Resolute 14

I'm sure you meant arena rather than team, however, if there is no team, there is no parking rights to sell or buy. And I agree, this is definitely a case of creative financing. But the fact that it is creative, and the opinion that it is a bad deal for tax payers does not automatically make it illegal.

All of this is speculative, but there is a possibility that the issue gets settled in this fashion, Hulsizer stabilizes the franchise, it continues to win, leading to higher attendance and higher than anticipated parking fees. At the same time, as arena manager, he manages to bring more events, also charging for parking, and the deal turns out quite profitable.

Likely? Maybe, maybe not, and I'm not holding my breath. But it is possible. I suspect that a legal challenge on the legality of the bond issue would revolve around that: the deal could be a big win for the city and taxpayers, but there are no guarantees. Lacking the guarantee, does state law/constitution support it? As I said above, that is something a judge will have to decide.

Correct me if I'm wrong but the whole premise of COG giving Hulszier 100 Million was for the parking rights of 5500 stalls at Jobing.com arena. Hulszier is than getting an additional 97 million over 6 years to run the arena. So if the bonds go through at 7% is the last number I saw. Which works out to 7 million annually, the COG is going to see a profit after 7 million in parking........ GOOD LUCK!! So 180 million for an arena, 197 million to let someone else buy the team and run said arena oh and now you're on the hook for 7 million in intrest payments for the next 30 years. 210 Million!! So now you have paid 687 million for a nhl team with taxpayer money. Oh and the team in question just lost 40 million this past year and it was working on a very tight budget!! Who in their right mind would do this????