Quote:
Originally Posted by Cappy
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!
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To each their own but I think you're wearing a tinfoil hat here. The land alone is going to be worth more than $200M in 20 years, regardless of what's on it. Possibly a lot more. City can sell it or lease it.