Quote:
Originally Posted by CroFlames
OK that's all good. And true.
The argument is why doesn't the owner spend his own money to improve your experience while you spend money on his product and entice more customers to attend and consume his entertainment product?
The vast majority of Calgarian taxpayers contributing to this will not see the incremental benefit from the new rink that STHs like you will see. If you, as a STH, don't like the current arena amenities, how is that everyone else's problem and why do they need to contribute financially to improve your experience?
I say this as someone who's company has STH and attends a dozen games a year.
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You keep saying the owners aren't spending their own money. But they are contributing some, estimated to be $356M (present value).
The city, BTW, is contributing $537M up front. But then they will be receiving income from it, for the next 35 years, starting at $17M and rising at 1% per year. The present value of those revenues, when discounted for inflation, is over $400M. There are multiple factors involved, such as: is the city borrowing some or all of the initial cost, the cost of any financing, etc., but we can safely say that the net cost for the city will likely be somewhere between $100 and $200M