[News] Seattle arena to be 100% private funded

[GGG]

Originally Posted by Jay Random

The arena by itself would cost $450 million. The owners were going to put up $200 million, the ticket tax would pay off the loan for the remaining $250 million.

So yeah, you caught somebody, Tex. (Not me; I'm not the one who said ‘more than paid for’.) It's not more than paid for. It's exactly paid for.

Now you may resume hyperventilating about an alleged billion dollars in public funding that nobody has asked for. It's cute when you call other people liars while doing it.

I posted this in the other thread a while ago.

So going through the that report in detail.

The Flames ownership will contribute 450 million
The city has to contribute about 900 million.

The city will get 435 million from a CRL and 310 million from the sale of land leaving about 150 million to be financed and still want to spend another 200 million in infrastructure on the west village.

They get a field house, stadium, and arena.

Or

Remediate the land for 50 million
Spend 200 million on a field house
Spend 300 million on infastructure (Total Value not reduced amount)

Gain 460 million from selling the land (15 more acres of land)
Gain 435 from the CRL or more now that you have more land.

This leaves you with 200 million dollars in actual created value. (150 million is interest. So you are Half a billion dollars ahead if you don't build the stadium/Arena.

So is an Arena and Stadium worth half a billion. I think we get the Arena for 100 million in infastructure around Stampede.

The ask for Calgary next is the city contributing 900 million of the 1.35 billion the total project will cost.

[DJones]

Where are you pulling 50 million in remediation, 460 million for land. and 435 from CRL from?


50 million is nothing

[GGG]

Originally Posted by DJones

Where are you pulling 50 million in remediation, 460 million for land. and 435 from CRL from?


50 million is nothing

It's based on the report the flames provided the city as a response to the city report on CalgaryNext. It established a value per acre for the leftover land could be sold for. If you take that per acre rate and add in the CalgsryNext land area as development instead of an arena you could sell it for 460. I don't necessarily believe the land could be sold for this amount today but it's the numbers the flames use in their report.

http://calgarynext.com/pdf/CalgaryNE...M%20Report.pdf

[Erick Estrada]

You have to imagine the NHL would be very interested in getting a team into that market if there was a new facility as it's one of the better untapped markets in the US. I didn't realize Seattle was a top 15 TV market in the US.

[Kavvy]

Originally Posted by Erick Estrada

You have to imagine the NHL would be very interested in getting a team into that market if there was a new facility as it's one of the better untapped markets in the US. I didn't realize Seattle was a top 15 TV market in the US.

I hope the Flames use it as a threat, good-bye public support!

[djsFlames]

Originally Posted by DJones

Balzac would make me so happy haha

And then you'd have every american broadcast starting with "Tonight, from the ______ center/arena/dome in Calgary's ball sack!..."

[Beatle17]

Looks like a little competition for Mr. Hansen:
http://www.seattletimes.com/sports/n...n-for-nba-nhl/

[CroFlames]

The Saddledome is just fine. Just build more bathrooms, that shouldn't cost too much.


I'd rather the City of Calgary build some semblance of an interchange at deerfoot and glenmore. How embarassing that you can't get from northboud deerfoot to westboud glenmore unless you go through a dealership complex and a couple sets of lights. Oh, and expand deerfoot to be 4 lanes from Airdrie to Auburn Bay.

[Beatle17]

Originally Posted by CroFlames

The Saddledome is just fine. Just build more bathrooms, that shouldn't cost too much.


I'd rather the City of Calgary build some semblance of an interchange at deerfoot and glenmore. How embarassing that you can't get from northboud deerfoot to westboud glenmore unless you go through a dealership complex and a couple sets of lights. Oh, and expand deerfoot to be 4 lanes from Airdrie to Auburn Bay.

You do realize that CalgaryNext in no way influences the road work that you want done right?

[Since1984]

Originally Posted by croflames

the saddledome is just fine. Just build more bathrooms, that shouldn't cost too much.


I'd rather the city of calgary build some semblance of an interchange at deerfoot and glenmore. How embarassing that you can't get from northboud deerfoot to westboud glenmore unless you go through a dealership complex and a couple sets of lights. Oh, and expand deerfoot to be 4 lanes from airdrie to auburn bay.

nvm!

[Resolute 14]

Originally Posted by djsFlames

Take notes, Calgary Sports and Entertainment Corp.

Spend your time seeking public financing, and opt to go private only as a last resort?

[Parallex]

Originally Posted by Resolute 14

Spend your time seeking public financing, and opt to go private only as a last resort?

Take notes, City of Calgary.

[Alberta_Beef]

Originally Posted by Parallex

Take notes, City of Calgary.

So you want Calgary to lose the Flames and then several years later have someone fund an arena? Seems like a good idea.

[Joborule]

Originally Posted by Alberta_Beef

So you want Calgary to lose the Flames and then several years later have someone fund an arena? Seems like a good idea.

Well in the end it would save the city money. (Not factoring in the economics of lost money for business that rely on Flames)

But lets be real, Flames aren't going anywhere. I'm confident the owners aren't interested in moving, and the league wouldn't allow them to anyway.

[CaramonLS]

Originally Posted by Alberta_Beef

So you want Calgary to lose the Flames and then several years later have someone fund an arena? Seems like a good idea.

Any talk of relocation from is complete and utter garbage. The NHL is not going to move one of their most profitable and stable franchises away from this city, even without an arena deal.

[Flames Fan, Ph.D.]

Originally Posted by Beatle17

Looks like a little competition for Mr. Hansen:
http://www.seattletimes.com/sports/n...n-for-nba-nhl/

Renovation of the Key Arena would be my preferred option. But the traffic issue has to be dealt with.

[Fire]

Originally Posted by Joborule

But lets be real, Flames aren't going anywhere. I'm confident the owners aren't interested in moving, and the league wouldn't allow them to anyway.

Yeah, it's not like we've ever seen Canadian teams move because of the lack of a new arena before...

[EldrickOnIce]

Exactly. Ownership isn't moving anywhere - but if they wanted to, the NHL certainly wouldn't stop them.

[Flash Walken]

Originally Posted by EldrickOnIce

Exactly. Ownership isn't moving anywhere - but if they wanted to, the NHL certainly wouldn't stop them.

I do not agree.

The NHL is a collective group of 30 owners each with their own financial stake on the line.

The Flames are one of the most profitable organizations in the league. There are several teams in financial turmoil in the NHL right now and the league is reliant on teams like Calgary, Edmonton and Vancouver to remain hot markets.

If the Flames left Calgary it would damage league-wide revenues. You might even see the cap falter slightly, that's how impactful the Flames market is for the league.

[EldrickOnIce]

Exactly. Making Calgary a perfect place to expand back to when someone builds a new rink.
Ownership would only move (which they won't anyway) if they got such a sweetheart deal in a new building in a strong market that they would be making money hand over fist.
I say it's a slam dunk for NHL approval, hypothetically speaking.