[calgarywinning]

Originally Posted by Brad Marsh

Lots still to unpack here. It does sound like CSEC in the short/medium-term is committed to Calgary and the Saddledome, which buys everyone time to re-assess this, and/or time for a new ownership group to step forward at some point, if needed.

I've never understood the polar ends of the fiscal debate. The cost-share has made sense from day 1, IMO. Billionaire owners getting a big subsidy? Sure, but.....the city gets a world class event center built in their city for about half the cost. Both parties in this partnership come out as winners.

I'm executive lead on a $20M project right now, and I know that's a rounding error compared to this project, but price escalations just in the last 8 months or so have easily been 20%. That coupled with a very rocky forecast on the Canadian dollar are almost certainly the major drivers in CSEC's decision to back away.

So CSEC's decision is likely not the Mayor's fault at all, but her taking to Twitter yesterday can't have helped the situation.

Post of the thread.