[sureLoss]

Andre Chabot says if he is elected he will find another private investor(s) besides the Flames to build the arena:

https://www.metronews.ca/news/calgar...ded-arena.html

The outgoing Ward 10 councillor and mayoral candidate said if elected mayor, he’d pull together a committee that would go looking for other private investors to get some sort of arena facility built.
“There’s a few well-to-do individuals in this city. One in particular, Brett Wilson. I don’t know if he’d be interested in participating in this little project or not. But I’d certainly throw his name out there as a potential participant in at least the discussions (…) on how you’d make this deal work.”
Chabot said there are examples of cities or citizens buying sports teams – citing the Green Bay Packers Football team – but that’s not what he’s proposing.
“I’m talking about building facilities for something that will contribute to the tourism of this city – put heads in beds, put people back to work, and create jobs,” he said.
Seattle is close to a deal that would see a privately-owned civic arena built completely with private funding.
Chabot thinks financial institutions and other investors would be all too happy to partner on a project like an arena. He said it could include a new football stadium or even soccer facilities, too.
Investors would get a return on the building, and the city could take back any investment through a ticket tax or a share of concessions.
As for how much money the city might put forward to help pay for such a project, Chabot thinks we can do better than the one third cost model the city pitched to the Flames.
“We could probably go beyond that financially if it’s a self-supporting debt,” said Chabot. “We can pretty much project what the total revenue is going to be and work that into the borrowing bylaw.”
The arena space would of course be made available to the Flames, Chabot said. They would still have ticket sales, merchandise sales, and other sources of income, just as they do with the city-owned Saddledome.
“I’m not going to suggest that I have all the ideas ironed out – I’m essentially throwing out an idea,” he said.