Quote:
Originally Posted by Bunk
Privately financed - it begs the question, why can't the Flames do the same? Or at minimum, privately finance the majority of the project?
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I think this has been the crux of the matter since the very beginning: They probably can, they just dont want to.
Its not a matter of 'cant' its a matter of 'want.'
Other Canadian cities and sports markets have set precedents of Public money for sports arenas, the CSEC is a private enterprise and are likely trying to get as much of that for themselves as they can. Represent the shareholders, etc.
But they couldnt have timed it worse.
Edmonton's deal being the shining pinnacle of bad deals left a bad taste in everyone's mouths and now nobody wants to commit public cash to an arena. Which is understandable.
But between 'The Edmonton Deal,' the crash of Oil Prices (which affects Calgarians significantly), unstable Political climate, and various other factors, having their hands out for Public cash could not have been done at a worse time.
If they'd done this 4-5 years ago when cash was flowing through the streets, a favourable Government was in place, Oil prices were high, the CSEC would have had more expendable cash to commit to the project and the City probably would have cut a cheque for the rest without blinking.