[News] Ken King: Flames' owners no longer pursuing new arena with City of Calgary

[DJones]

https://www.forbes.com/teams/calgary-flames/

18M Income in 2016.

Simple question. How much money would you invest to make 18M a year?

I've been picking stocks out of my ass for 5 years and have a better return than this haha. Can't imagine the opportunities with that type of capital.

[Ozy_Flame]

Originally Posted by Bunk

Do people think this is actually an unreasonable stance and perspective?

Absolutely not. But people have their blinders on when it comes to Nenshi (Spendshi), Farrell, and the City in general, and don't trust them to make any good decisions, even if it was performing CPR on the sidewalk for a citizen in distress. Even in this thread we've seen people compare City spending on the Bowfort Towers and the Blue Ring, demonstrating a clear lack of understanding in how those projects even get arranged or funded.

Once they see a political obstacle they don't like, they bunker in for the long haul no matter what the situation. It's the Albertan thing to do.

[Roughneck]

Originally Posted by DJones

https://www.forbes.com/teams/calgary-flames/

18M Income in 2016.

Simple question. How much money would you invest to make 18M a year?

I've been picking stocks out of my ass for 5 years and have a better return than this haha. Can't imagine the opportunities with that type of capital.

How much money would you invest to turn a $16M purchase into a $410M asset that makes $18M a year?

[TheKurgan]

Originally Posted by calgaryblood

Well then they can just sell their hobby business to someone who wants to run an actual business and not get free handouts from the city.

That's what will eventually happen without a new building. But that someone who "wants to run an actual business" won't keep the team here. There are lots of cities with newer arenas already built that are looking teams.

I think what you want is some billionaire to buy the team, build a new arena with his own cash, and then run it as a non profit.


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[Cecil Terwilliger]

Originally Posted by DJones

https://www.forbes.com/teams/calgary-flames/

18M Income in 2016.

Simple question. How much money would you invest to make 18M a year?

I've been picking stocks out of my ass for 5 years and have a better return than this haha. Can't imagine the opportunities with that type of capital.

That completely ignores the increase in value of the team itself.

[topfiverecords]

Originally Posted by Cecil Terwilliger

Hey nice drive by!

And your stupid comparison only works if my ex girlfriend is a scumbag who dumped me because I wouldn't buy her a brand new BMW, even though she's a trust fund kid and I'm barely scraping by. Oh and she only wants me to pay for it because he dbag friends all scammed their moron boyfriends into buying them new BMWs and she doesnt want to be left out.

Plus she's not even your girlfriend. She's your wife, and if she leaves she's going to have to some major legal and relocation expenses. Not to mention a whole new wardrobe.

Won't miss that ugly blouse with those flags she always used to wear though.

[MonaTone]

Are there any examples of publicly funded stadiums in the range we know the Flames has asked for thus far that have actually paid off and resulted in an ROI relative to other public investments of that size? I have yet to see anything other than speculative drivel from leagues, the IOC and their ilk.

I want a new arena I can't afford to go to as much as the next fan, but pure passion aside if this was any other corporate hand-out I would be absolutely livid at the idea of it without strong data to back it up.

Ken King, Burke and Bettman telling me I'm not a true fan if I'm not willing to forgo alternative/better investment in the city and its people isn't going to cut it, not with billions of dollars in wealth sitting in the owners box.

[dino7c]

Originally Posted by Roughneck

How much money would you invest to turn a $16M purchase into a $410M asset that makes $18M a year?

over 37 years...and many years operating at a loss

[Dion]

After spending close to a half hour reading the news and the comments in this thread I don't know what to think.

A part of me thinks this is a half baked plan by the Flames to try and influence the upcoming civic election in an effort to get someone as mayor who is willing to give the Flames what they want in an arena deal.

One thing I don't like is threats. If you're going to move, then move. Don't tell me you're going to continue playing for the forseeable future and then leave us to guess what's going to happen next. The same goes for Bettman.

It confuses me when Bettman and NHL continue to flog a dead horse in Phoenix and yet seen ready to give up on Calgary so easily. My spider sense are tingling.

I remember all the excitment in the city when it was announced the Atlanta Flames were relocating to Calgary and the phones ringing off the hook with people clamouring for seasons tickets. It will be sad if they choose to leave.

[getbak]

Originally Posted by sureLoss

The breakdown for the Flames proposal for a $890 million CalgaryNEXT building was:
$200 million from CSEC
$250 million from ticket tax
$200 million from city fieldhouse
$240 million from CRL

If you consider CSEC and ticket tax as Flames contribution similar ratio would be 50.5%. Then there is also the question of how relevant that % is with additional infrastructure costs and other things.

Originally Posted by GGG

I want to see the numbers each side offered. I think there would have been a deal to be made with the 200 mill the flames were kicking in plus a 250 mil ticket tax. Howver Kings comments that the ratios of funding remained the same suggests the flames offered less than they would have for CalgaryNext.

Even if you want the flames to stay the best deal the city can make is at least 2-3 years away. The day before they are ready to move is when the city should sweeten the offer. Stay strong Calgary, there are more teams than NHL markets.

So, if King is right that they were offering essentially the same percentages for Victoria Park as CalgaryNext, and the city is offering a 1/3 split, they're not that far apart.

Basically, it's the difference of the funding for the fieldhouse. Since a standalone arena wouldn't include the fieldhouse, the remaining is a 1/3 split of everything else.


Get your #### together and get a deal done you whiny #######s.

[MonaTone]

Originally Posted by Cecil Terwilliger

That completely ignores the increase in value of the team itself.

Not to mention that professional sports ownership is as much an exercise of the ego for billionaires as it is a financial investment.

[Roughneck]

Originally Posted by dino7c

over 37 years...and many years operating at a loss

And yet the asset kept appreciating. What a terrible investment.

[TheAlpineOracle]

Pro public funding or not, this certainly has put a damper on the season for me. For the first season in many years I was genuinely excited for the season to start. Now I kind of wish I had not renewed my tickets. Not sure how people in places like Oakland continue to go to games when hey know there team is definitely leaving.

[DJones]

Originally Posted by Cecil Terwilliger

That completely ignores the increase in value of the team itself.

The one that went down six percent last year?

I wouldn't buy shares

[dino7c]

Originally Posted by Roughneck

And yet the asset kept appreciating. What a terrible investment.

I never said it was terrible...its not great either

do you have any idea what you could have bought in Calgary in 1980 with 16M?

[Cecil Terwilliger]

Originally Posted by DJones

The one that went down six percent last year?

Lol. Are you serious right now? It has probably tripled in value in the previous 25 years but a one year 6% decrease somehow proves it's a bad investment.

Your earlier post is right, you don't know the first thing about investing.

[Ozy_Flame]

Originally Posted by TheAlpineOracle

Pro public funding or not, this certainly has put a damper on the season for me. For the first season in many years I was genuinely excited for the season to start. Now I kind of wish I had not renewed my tickets. Not sure how people in places like Oakland continue to go to games when hey know there team is definitely leaving.

And that's the worst part. You're a proven Flames fan, committed to the team and willing to put your wallet on the line to support the franchise. The owners have just kicked you in the teeth, including the head tooth kicker who showed up at your door to personally boot you square in the mouth.

As a season ticket holder, I'd be pissed. This should have been mentioned at a STH meeting, although I am fully aware this is electioneering.

[Roughneck]

Originally Posted by dino7c

I never said it was terrible...its not great either

Better than 'if it was about money they'd sell it because it's not good.'

Making millions a year and gaining hundreds of millions in value is pretty good any way you slice it, even for a billionaire.

do you have any idea what you could have bought in Calgary in 1980 with 16M?

The Flames I guess.

[calgaryblood]

Originally Posted by dino7c

I never said it was terrible...its not great either

do you have any idea what you could have bought in Calgary in 1980 with 16M?

That is worth $400 million now? Please share.

[Roughneck]

Originally Posted by Cecil Terwilliger

Lol. Are you serious right now? It has probably tripled in value in the previous 25 years but a one year 6% decrease somehow proves it's a bad investment.

Your earlier post is right, you don't know the first thing about investing.

CNRL is down 10% in the last year, I'm surprised Edwards is holding on.