Quote:
Originally Posted by Resolute 14
The Molson Centre was built for $270 million in 1996. Five years later, the Molsons sold the arena AND team for $275 million. Obviously the arena depreciated in value significantly over that time and could definitely be argued as a bad investment.
On the flip side, Molson re-purchased the team, arena and Gillett's entertainment company for $500 million. I'd say the arena obviously appreciated in value in those eight years, but has never approached its original cost.
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You don't invest in the arena for the building to appreciate - most of them end up demolished. You invest in the arena to boost your revenues.