City of Abbotsford to cover estimated $1.2M revenue shortfall for Heat
Quote:
"Our second year numbers were more disappointing than the first year numbers."
City officials projected in May the Heat could fall short of the $5.7 million in guaranteed revenue for the local ownership group as part of the 10-year supply fee agreement between the City of Abbotsford, the Heat and its NHL affiliate Calgary Flames, by as much as $1.2 million for the team's 2010/11 fiscal year.
If the city's spring projections are accurate, taxpayers will have to subsidize the Heat for roughly $1.7 million in its first two years of operation.
|
Last edited by Canada 02; 09-29-2011 at 12:42 PM.
|