Quote:
Originally Posted by heep223
The City would own a building that cost $800M to build, and they paid $200M for it. That looks like a great deal! Or am I misunderstanding that?
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It does look like a great deal. But it is a building they will (almost certainly) receive zero revenue from. It will be a depreciating asset (in 20 years, is it worth 900 million? especially without a tenant?) and once the flames leave it (be it a new stadium in Calgary or elsewhere) the cost of upkeep and lack of tenant would render it a teardown.
We can talk about re-purposing McMahon and the saddledome but it just doesnt make sense without a tenant. The problem is, the only tenant able to keep it going is the Flames (inc. NHL, CFL, WHL, NLL)
It looks great, and you cannot fault someone for looking at it like that, but that is what the Flames want you to look at!