Quote:
Originally Posted by Locke
While true, a building is a whole other ballgame. Its not treated the same way as most depreciating assets.
Commitment? I dont think thats much of a barrier either. The whole 'We'll Move the Team' thing is complete Horse-Hockey.
Put it this way: If its the City's building but they get their 2/3s back I can see that being a sticking point. That would be unfair. Because with normal Real Estate you'd take the thing after its appreciated in value and sell it and profit, but with a declining asset like an arena you cant do that.
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With a declining asset with no major tenant and a significantly reduced revenue stream, you couldn't sell it period. So yea, a CSEC funded arena is a huge commitment