The truth is, rich people get and stay rich by not blowing their money unnecessarily. If the owners believe they can get others to fund part or all of the facility, they'd be fools not to try.
Personally, I view an arena as a public good. Not really any different than a museum, zoo, park, etc. As an individual tax payer, I have no problem with some part of the facility being publicly funded. As an individual user of the facility, I also have no problem with paying some of the cost directly through a ticket surcharge. The majority of the arena should be privately funded, however.
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