The best arenas are the best (IMO) because of the amenities around them - Phoenix, Vegas, LA, etc.
If you put the arena on Tsu Tina land, there are no restaurants or amenities nearby. Also, no pre-existing parking, so you have to build thousands of spots (and charge for all of them).
As someone said, it would be detrimental for corporate participation, so you're swimming upstream with respect to revenues as well.
Then there is the issue of nearby development (hotels, office towers etc). Just no incentive for any of the participants to want to go there.
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