12-12-2023, 08:00 PM
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#21
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#1 Goaltender
Join Date: Apr 2022
Location: California
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Quote:
Originally Posted by KelVarnsen
Oy
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Oyesteryear...
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12-12-2023, 08:02 PM
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#22
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First Line Centre
Join Date: Oct 2011
Location: Winchestertonfieldville Jail
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As a new Alexandria, VA resident, I welcome this deal. 15 or so min walk from my new place!!
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The Following User Says Thank You to skudr248 For This Useful Post:
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12-12-2023, 08:03 PM
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#23
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Franchise Player
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Quote:
Originally Posted by Mightyfire89
Ted Leonsis, the owner of the Capitals has a net worth of around 2.8 Billion. If he spent 800 million, he would still be worth 2 billion. I understand the financial math involved is not quite that simple, but asking for handouts from area taxpayers for a new building still makes him a POS in my mind. That might be just me though. With rare exception, I loathe the Uber rich for their lack of conscience when it comes to giving back to the society that made them wealthy.
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I always thought that a good solution would be giving cities partial ownership of a team if the city commits to building an arena. For example if a new building increases the Flames franchise valuation from $1B to $1.5B, then the city should get a $500M share for 33% of the franchise.
That also prevents the team from simply leaving once the arena gets older. That way, the city benefits from a potential sale/move of the franchise.
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12-12-2023, 08:05 PM
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#24
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#1 Goaltender
Join Date: Apr 2022
Location: California
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Quote:
Originally Posted by gvitaly
I always thought that a good solution would be giving cities partial ownership of a team if the city commits to building an arena. For example if a new building increases the Flames franchise valuation from $1B to $1.5B, then the city should get a $500M share for 33% of the franchise.
That also prevents the team from simply leaving once the arena gets older. That way, the city benefits from a potential sale/move of the franchise.
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Well, losing all the appreciation of the franchise to the city kind of destroys the incentive for having a new building.
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12-12-2023, 08:06 PM
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#25
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Powerplay Quarterback
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Quote:
Originally Posted by gvitaly
I always thought that a good solution would be giving cities partial ownership of a team if the city commits to building an arena. For example if a new building increases the Flames franchise valuation from $1B to $1.5B, then the city should get a $500M share for 33% of the franchise.
That also prevents the team from simply leaving once the arena gets older. That way, the city benefits from a potential sale/move of the franchise.
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If the city owned an ownership share would they also have to cut a cheque if the team suffers losses?
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12-12-2023, 08:09 PM
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#26
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Celebrated Square Root Day
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Quote:
Originally Posted by butterfly
Well, losing all the appreciation of the franchise to the city kind of destroys the incentive for having a new building.
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Cool, then build it yourself as an owner and enjoy all the benefits then, right?
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The Following 2 Users Say Thank You to jayswin For This Useful Post:
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12-12-2023, 08:10 PM
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#27
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Franchise Player
Join Date: Aug 2012
Location: Seattle, WA
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Quote:
Originally Posted by Jiggy
If the city owned an ownership share would they also have to cut a cheque if the team suffers losses?
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No, they want the upside with no risk.
__________________
It's only game. Why you heff to be mad?
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12-12-2023, 08:11 PM
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#28
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Franchise Player
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Quote:
Originally Posted by Jiggy
If the city owned an ownership share would they also have to cut a cheque if the team suffers losses?
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Yes, but only after receiving a cheque from the league's revenue sharing.
If a team keeps losing money, that would be an incentive to facilitate a sale, and move the team. The same would work for making money, and I think that most cities would be generating revenue that way.
Again, that's a hypothetical scenario, just seemed like a better solution than just building arenas with taxpayer money.
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12-12-2023, 08:15 PM
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#29
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Celebrated Square Root Day
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Quote:
Originally Posted by DoubleK
No, they want the upside with no risk.
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But the owners want them to get nothing regardless of upside for their contributions (and it's by and large upside in terms of pro sports)?
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12-12-2023, 08:16 PM
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#30
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Franchise Player
Join Date: Aug 2012
Location: Seattle, WA
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Quote:
Originally Posted by jayswin
But the owners want them to get nothing regardless of upside for their contributions (and it's by and large upside in terms of pro sports)?
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Since when do cities get nothing?
__________________
It's only game. Why you heff to be mad?
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12-12-2023, 08:17 PM
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#31
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Celebrated Square Root Day
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Quote:
Originally Posted by Jiggy
If the city owned an ownership share would they also have to cut a cheque if the team suffers losses?
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Sure, I think that's fair to make it a partnership agreement where both parties benefit from revenue and accept risk? Do you?
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12-12-2023, 08:26 PM
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#32
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Celebrated Square Root Day
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Quote:
Originally Posted by DoubleK
Since when do cities get nothing?
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What do they get?
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12-12-2023, 08:26 PM
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#33
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Franchise Player
Join Date: Jul 2010
Location: Apartment 5A
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Quote:
Originally Posted by jayswin
What do they get?
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Debt
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The Following 4 Users Say Thank You to KelVarnsen For This Useful Post:
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12-12-2023, 08:30 PM
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#34
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Franchise Player
Join Date: Aug 2012
Location: Seattle, WA
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Quote:
Originally Posted by jayswin
What do they get?
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You said they get nothing. I am asking you to define "nothing", not respond with rhetoric.
__________________
It's only game. Why you heff to be mad?
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The Following User Says Thank You to PepsiFree For This Useful Post:
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12-12-2023, 09:02 PM
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#36
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Celebrated Square Root Day
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Wait, Calgaryboy still posts here!? Love that guy. (just saw he's viewing the thread)
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12-12-2023, 09:26 PM
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#37
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Unfrozen Caveman Lawyer
Join Date: Oct 2002
Location: Winebar Kensington
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Vintage arenas that lasted a long time:
https://bleacherreport.com/articles/...as-of-all-time
Montreal Forum 70 years
Maple Leaf Gardens 68 years
Boston Gardens 67 years
Chicago Stadium 65 years
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12-12-2023, 09:39 PM
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#38
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Celebrated Square Root Day
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Quote:
Originally Posted by troutman
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Those are mostly irrelevant, as revenue generating has changed dramatically. Back in the day you charged $2-$10 a ticket and could keep, cold, cold arenas at 11-15k chumming along in perpetuity as fans just accepted that as what a hockey game experience was and they didn't pay a lot for it.
Once they started moving towards suites and expensive lower bowl seats as a main driver of revenue the "need" (in quotes becuase it should have been a need for owners, but somehow that need was pushed onto cities) became to have 17-20k stadiums with 30-70 box suites.
Last edited by jayswin; 12-12-2023 at 09:50 PM.
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12-12-2023, 09:45 PM
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#39
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Powerplay Quarterback
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Quote:
Originally Posted by KelVarnsen
Yes very much so.
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So you would just say “well I should just pay 1/4 of my net worth so taxpayers don’t have too…”
Leonsis is worth $2.4B, the amount of money being talked about is literally 25% of his net worth.
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12-12-2023, 10:11 PM
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#40
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Franchise Player
Join Date: Mar 2005
Location: Van City - Main St.
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I always wonder why anyone who hates the rich and capitalism so much watches professional sports.
I understand the frustration and concerns with modern wealth inequality, but why support pro sports as a consumer when it's an area that's getting so out of hand?
Do you buy Louis Vuitton and complain about the profits LVMH are making?
Stop feeding these businesses with your support if it's something that important to you.
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