Quote:
Originally Posted by Ducay
This is precisely the "layman" approach I am talking about. Its not about billionaires wanting to pay as little as possible (well, yes it is) but it is all about returns. If M.Edwards could get 15% return on the 1/3 deal, he'd be all over it. Heck, I'd imagine just to be the "good guy" or get the project moving, he'd take a deal that gets him a return equal to some kind of personal WACC or a low risk investment. Sure, they could be holding out for a return higher than they should, but they've set their return at a certain level and are holding out for something in that range.
These guys have more money than they will ever need and the bad press isn't worth it if they were really trying to get insanely greedy. They live for the reputation at this point.
So yes, they have enough money to fund it, but why would they if they are going to earn peanuts on their investment? Can't blame them if they could use that same money to get better returns invested elsewhere.
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Sorry, you're talking out of your ass. The Flames won't open their books to the city they're trying to extract money from (successfully, might I add.) You have absolutely no insight into their actual financial position except for what Ken King is saying, and he is saying that if the city gives them 155 million dollars, in cash and services, but they are forced to pay taxes on their building that they are paying for 120% of the cost of the arena. How anybody can hear a statement like that and then say Ken King is doing a "bang up" job articulating ANYTHING to the public is truly bind boggling. The guy cant even getting a freaking jersey right.