I know that 4 of the NHL arenas built in Canada were privately financed. Rogers in Vancouver, Air CAnada Centre in Toronto, Scotia Bank Centre in Ottawa and the Bell Centre in Montreal. Not sure about Winnipeg but this shows that arenas can be privately built and in Canada are the majority. The downside is that the smaller markets owners of both Vancouver and Ottawa went bankrupt shortly after their arenas were built.
I think even billionaires may have a hard time putting out $.5B + for a new arena and or stadium.
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