Quote:
Originally Posted by Senator Clay Davis
Well $450 million is also not true either, they will recoup the ticket tax amount. The amount of straight cash homey that the Flames are putting into a $1.3 billion project is $200 million, meaning someone else is picking up $1.1 billion of the tab. Gifted sounds closer to being right than being wrong.
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The ticket tax is out of the owners' pockets, based upon market prices.
If I can get $100.00 for a ticket, and that is all the market will bear, and I don't have to put any of it to the building, I get $100.00.
If I have to put $10.00 of that price to the ticket tax for the building, then only $90.00 goes to my pocket.
I know some disagree, but that, in my opinion, means it is out of the owners' pockets. If it is tacked on top of the ticket price so that it is $110.00, then the market could bear that $110.00, which is still $10.00 out of my pocket, as owner.
And, the reason it is called a ticket tax as opposed to a surcharge or not mentioned at all is for Hockey Related Revenue arguments.
Edit: PS: Are you calling me homey? ; )