Quote:
Originally Posted by Frequitude
Maybe it was covered earlier, but an important note is that CSEC's $356M contribution is a discounted number which actually totals to about $750M gross. So they aren't paying $40M up front then the remaining $316M over 35 years. They're paying $40M up front then the remaining $710M over 35 years.
https://www.calgary.ca/content/dam/w...tre-Update.pdf
I know that still won't please CSEC detractors, myself included, but CSEC does deserve the benefit of seeing it through this lens.
And I'm actually shocked that CSEC isn't boasting the $750M number front and centre. That's what they did last time (advertised the undiscounted contribution) and its usually what team owners try to do in these arena deals. |
Did you miss my post where I pointed this out? You see it as a positive due to the final dollar amount, but the 1% increase over 35 years doesn't capture much inflation, or the borrowing costs the city takes on. This is basically their rent payment. I'd love my rent to be guaranteed to go up 1% ever year, becuase it would mean my rent was drastically cheaper after 35 years.