Quote:
Originally Posted by TheScorpion
So basically what Staples is saying is that the $155.1 million "facility fee" actually constitutes the majority of CSEC's $275 million contribution to the deal?
My understanding was that it was entirely separate and recouped after-the-fact...? CSEC is paying $275 million PLUS that fee, right?
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CSEC doesn’t pay the fee, users do. But the key difference is that the fee is going to act as a reimbursement to the city, rather than to the arena
With that considered, the deals are essentially:
Calgary’s
City: 22%
Ticket Tax: 28%
CSEC: 50%
Edmonton’s
City: 50%
Ticket Tax: 22%
OEG: 28%
CSEC is slated to pay over ~$125M more than the Oilers did. The city of Calgary is putting up essentially the same up front but getting $155M back with the ticket tax.