Quote:
Originally Posted by Zarley
Both Molson Centre and GM Place went into bankruptcy shortly after construction resulting in losses for initial investors. Here's a synopsis by Edmonton mayor Don Iveson.
The Flames are putting up essentially $450M, which should be enough to get an arena done on its own. In my opinion, the need for a new stadium in Calgary is far greater than that for an arena. The only way a new stadium will happen is with public money. Every major outdoor stadium built in Canada in recent has been publicly funded. Stade Saputo, |
I don't believe Stade Saputo received any public financing, nor did the Bell Centre go bankrupt. The fact that groups had losses on a stadium isn't a surprise. A stadium is a declining asset (like a car), you invest in it so your team can make money and eventually you need a new one.