Most observers and policymakers seem not to grasp just how massively franchise values have jumped in recent years. If I were in the room, I would have hammered this point over and over: with this deal, the Flames' franchise valuation is going to jump at least $350 million, maybe more. The city doesn't see any of that value (nor should it). It feeds entirely to the owners in terms of net worth, borrowing and purchasing power, etc. In this sense, it's fair to expect CSEC to contribute at least half the upfront/financing costs in order to achieve that outcome, or to at least provide clearer and more robust pathways for the city to access some of the revenue generated by the new facility over the next 35 years.
CSEC's play worked, and they make out like bandits here. I am happy there will be a new rink, but the last deal was so much better for the city.
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