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Originally Posted by GGG
I’m worried that clause will get stupif but also that it leaves the city on the hook for the community rink. The extra rink will be pitched as non-essential to CSEC and require the city to pay up when it doesn’t fit in the budget.
Overall glad it got done. The city should have a venue of arena size so I think the city would end up spending 200-300 anyways on that type of facility. So getting the best deal possible out of the flames makes sense. I didn’t like the spin and the lack of the city presenting a fair evaluation like they did for CalgaryNext and the first arena proposal. Instead the city just presented the Pro argument. They also made nebulous claims of the 140 million in tax revenues that is clearly displaced. So not a fan of the city presentation but overall the deal is about as good as would have happened.
Also buy extending and delaying this process we will get over 40 years out of the building.
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I may be in the wrong here but I think CSEC also really wan't the community/practice rink as a stable side business and for flexibility.
If they go with community/practice rink that will replace the Corral and have a capacity of 6000? 7500? It will allow them the ability to have more events and take additional business away from other YYC venues. A smaller scale concert that might not be suitable for the Dome and may have gone to Grey Eagle or Jubuliee will now be able to go downtown.
World Jr Hockey or future Olympic bid? All the games and associated revenue go to their coffers without sharing venue's. Big concert in town or a scheduling issue with Hitmen/Flames? Have the Hitmen game and the Flames practice in the community rink while double ending the concert and concession revenue.
This was less and less about the Dome and its viability for watching hockey games and concerts. Did some pass Calgary by? Sure. Were some of the Dome's issues fixable or repairable with say $50 million in renovations? I am sure of it but that would be a waste of the Flames ownership dollars so better get the citizens to chip in.
Ownership is going to make serious serious coin with this new arena and the district around it. Their franchise values will increase significantly and the cash will just flow in.
On a very basic level, the $275 million contribution from the Flames over the course of 35 years works out to less than $8 million a year. For that they get 2 rinks technically (19k+ community). They will get naming rights minus $250k a year to the City of Calgary. According to the link below, Rogers Arena in Vancouver got $6 million a year back in 2010. I couldn't find Rogers Place in Edmonton but assume CSEC get's approx the same come 2024 which I highly doubt as I assume a little more.
http://www.vancouversun.com/sports/r...281/story.html
The Flames should EASILY be able to generate $5 million a year in revenue from just foot traffic going to their version of Flames Central Bar & Grill (Similar to Real Sports in Toronto) and their own apparel store
on non-event nights Very little random foot traffic walking into the Dome now on non event nights. Imagine what the revenue will look like come event nights?
I am kinda getting off topic here but at the end of the day this is going to be a financial windfall for ownership. They are pretending that they are doing us a favor with the $275 million cheque and that we are all big shot owners with the citizens owning the building as if we get some big time say in how things are going to be done or how much they should cost us.
Sorry about the long post!