Quote:
Originally Posted by Gemnoble
The city can't charge any property tax and the tickets go to CSEC is my understanding.
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I don't get it. The flames are putting up $40m. Then every year they have to pay $17m.
But they will likely earn incremental annual revenue of $35m. Which might breakdown something like $5m from incremental venue rental for non-CSEC events, generate $10-$20m in annual facility tax, generate incremental $10m-$20m by increasing ticket prices and the number of luxury boxes for the Calgary Flames.
So basically, the CSEC is out $40m today and then every year going forward they make an extra $15-$20m a year after paying rent of $17m.
That Murray Edwards is a shrewd dude. It's just straight up corporate subsidies