Quote:
Originally Posted by troutman
Paul Giblin@PaulGiblinAriz
#Glendale Councilman Manny Martinez on the budgeted $6 million a year arena management fee: “There’s always room to wiggle it down."
Paul Giblin@PaulGiblinAriz
#Glendale's Martinez on the #Jobing.com Arena fee: "But to wiggle it up, I just don’t see where we can get any more money. I just don’t."
Paul Giblin @PaulGiblinAriz
#Glendale City Manger Dick Bowers on the source of the $6 million figure used for arena managment fees in the proposed city budget...
Paul Giblin @PaulGiblinAriz
#Glendale's Bowers: "Our estimate, based on audited statements and reviews, we believe that’s in the neighborhood of what it would take."
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Unless Glendale is willing to handle it themselves, which may be the case, they need to come to terms with the fact that the price is whatever the market dictates it is. It may only take $6mil to do it, but nobody is going to bid at cost, and the less competition there is the less pressure to cut down profit margin. There's also the element of uncertainty, if bidders have questions as to long term viability they're going to demand increased prices to take on that risk.