The more I think about this the owners should cut out the City altogether and build their own facility.
The owners could spread out the risk among those of us taxpayers who want to participate (to the tune of say $200m which is not an unrealistic amount that could be underwritten by a syndicate of investment banks) by investment under some kind of public REIT structure whereby the owners of the facility (made up of the owners of the Flames, who would own say 2/3 of the equity, and the investors) license the arena to the Flames as primary tenant and receive the benefit of income from other events (concerts, conventions etc.). As long as the arena is profitable, how is this any different than investing in a shopping centre or apartment REIT?
Last edited by Manhattanboy; 09-13-2017 at 05:42 PM.
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