Quote:
Originally Posted by Jay Random
Arthur Griffiths built the arena in Vancouver with private money, lost his shirt, and had to sell the team.
The Molsons built the arena in Montreal with private money, lost their shirts, and had to sell the team. The arena cost $270 million to build, and just five years later, the arena plus an 80 percent interest in the Canadiens sold for $275 million. I think it's safe to say that the franchise was worth more than $5 million, and therefore, that the owners took a loss on selling the arena.
Toronto is probably the only market in Canada big enough for a 100% privately funded arena to pay for itself.
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After reading this why would tax payers want to front a bill for a new arena. Stay at the dome for the next 20 years. You'll still make more money than half the teams in the US.