Quote:
Originally Posted by GGG
I think one interesting thing that hasn't come up is the current annual subsidy of the Flames.
The city has effectively gifted the Entertainment business in the city to the Flames. If it auctioned off the Arena Management contract what is the value of that deal? I think one of the repayment misconceptions comes from people not realizing theflames currently receive a 5 million to 10 million dollar subsidy from the city in the terms of minimal rent and the right to host events.
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Good point. Say it's an average of $5 million over 34 years, that's $170 million they have accrued. Looks like the city had already contributed their share if we're using accounting techniques for the clinicly insane & property tax amounts to cost recovery in Ken King's eyes.