Quote:
Originally Posted by Locke
Again, it just depends on who cares. Everyone knows the team loses money, the City should never have agreed to underwrite losses in the first place.
We had the same deal with Abbotsford and they quickly found out what a bad deal that was.
Apparently you dont need any degree of economic education or common sense to go into Municipal politics.
At the end of the day they entered into an agreement, sure it sucks for them but no one had a gun to their head forcing them to sign it.
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Or provincial politics, for that matter.
The problem for the city is that they are screwed no matter what. When the five year escape clause comes up, the Coyotes could relocate to another market in the hopes of turning losses into profits. Glendale will be eating the cost of the arena many years to come, and without a prime tenant to replace the hockey team.