Would you buy shares in the Flames so they could build a new arena?
Let me start with an assumption: The current owners of the flames never plan on selling the franchise for the purposes of moving it (because its a community asset), and they dont draw a profit out of the bottom line. The purpose for owning the team is (1) civic pride (2) social status and (3) getting your name on the cup
As a minority shareholder, I could get access to (1) and (2)!
Why wouldn't the owners consider floating a minority number of shares to the public. Suppose the owners create 2 million shares for the flames and keep 1.75 million for themselves, and offer 250,000 to Calgarians for sale at $1000 each, for the sole purpose of helping to fund an arena. That would raise $250 million for a new arena, while leaving ownership firmly in control of the current owners.
Meanwhile, suppose for being a shareholder you get the following:
1) Get to attend an annual shareholder meeting
2) Get to vote at the meeting. Your vote wouldn't matter because the majority owners would still outnumber you.
3) Get to say "We won the cup" and not feel silly for saying we, because...well you're an actual owner!
4) Paper copies of the share certificates for framing.
5) If you buy 10 shares or more, you get your name engraved on one of the seats in the new arena!
6) The shares can be purchased by a corporation, so they're tax deductable for corporations and small business owners
7) Technically, the shares have an intrinsic value, equal to 1/2,000,000 of the team value so you are getting something with resale value. And you would be able to resell them!
8) A share of dividend distributions, if any. Although, don't hold your breath if the owners have never drawn from profits in the past.
9) A seat licence and priority seat selection in the new arena for every $5000 of shares purchased. Note that seat licences in Toronto are a very valuable asset
http://www.torontomapleleaflicenses....-gold-2-seats/
10) If you buy $1,000,000 or more of shares you get "seat licence" giving you the right to buy or sell your right to lease a luxury box.
Between a $250m ticket tax, $200m from the owners, and $200m in share sales, it would be more than enough to build a state of the art arena!
Would you have any interest in such an initiative?