New Edmonton Arena Construction will begin in March 2014

[jayswin]

Originally Posted by Rerun

Just because you have the ability to make lots of money doesn't mean you are exceptionally intelligent. Organized crime and other gangs make tons of money.

There's lots of intelligent people in organized crime, especially the rich ones. A better example would be that there are lots of people who inherit fortunes that aren't particularly intellegent.

[GGG]

The big subsidy in the oilsands is reducing the royalty rate until the capital costs have been paid for. Also 2 billion for carbon capture is a pretty big one.

[taco.vidal]

Oil companies put their money up to pay for the projects and the subsidies are reduced royalties and tax incentives. Katz can pay for his rink then the city can allow him to charge and keep a ticket tax for the nect 25 years to pay for a portion of the money he put up for the rink.

Originally Posted by GGG

The big subsidy in the oilsands is reducing the royalty rate until the capital costs have been paid for. Also 2 billion for carbon capture is a pretty big one.

[killer_carlson]

good for katz's advisors to convince him to be accountable for one of the worst PR moves in the last 25 years in Alberta.

Having said that, he's a long, long, long way from recovering from that hole he dug. He's solidified a huge, overwhelming amount of the populace on Mandel's side holding firm against Katz. Whatever deal he is going to end up with, it probably will be worse than what he would have had on the table before the Seattle stunt.

[Joborule]

Katz ended up really played this wrong. I think city concil won't be paying a dime more and Katz is going to end up paying the rest of the bill, as he should.

[Reggie Dunlop]

If Katz relly wants to atone to the Edmontonian rabble, he should give Kevin Lowe a big raise and contract extension.

[Sylvanfan]

Originally Posted by Rerun

Just because you have the ability to make lots of money doesn't mean you are exceptionally intelligent. Organized crime and other gangs make tons of money.

I'd say it's more to do with being able to relate to people. You can be brilliant, but still be a social misfit that people can't trust. My wife's bleep head brother in law is like that. He's rich, but most people hate him. People may not hate Katz...but he's losing the PR battle here. When you ask for the fame of owning a pro hockey team in Canada and public money you better be good at public relations. Katz is terrible at it right now.

[Resolute 14]

The funny thing is, I thought there was no way Katz as a single owner could be worse than the 30-headed monster that was EIG. I should have known better.

[Bend it like Bourgeois]

Originally Posted by Resolute 14

The funny thing is, I thought there was no way Katz as a single owner could be worse than the 30-headed monster that was EIG. I should have known better.

I think it's still a 30 headed monster,just now they are old oiler players with overlapping and redundant roles. Wonder how they feel about all this. If Katz has few friends among the crew he inherited, and is losing friend with the ex oilers club, it might make for awkward Christmas parties.

[Mr.Coffee]

Yeah, wow, it really is shocking that financial success is not a litmus test to intelligent public relations (just kidding, little to no relation).

Flying to Seattle was a clear bluff because even NHL players understand that Katz's batna to public funding for a rink is paying for it on his own and staying in Edmonton, not going to Seattle. Seriously, how many millions would he have to fork over in relocation expense vs. funding the remainder of a guaranteed-to-be-sold-out arena in hockey rabid and wealthy Alberta?? Give me a break Katz, if you wanted to be a bully with your franchise, you should have bought the bloody Coyotes whoops... Islanders.

Case closed, and he will now probably end up forking over more now that he did this. Hilarious sometimes how things backfire when you act disingenuous.

[browna]

Who knows, maybe the talk with Seattle gets him thinking that he can go in as the owner or as a partner there with an expansion franchise, and get the financial deal and situation he requires and demands in Edmonton.

Closer to his actual home base of operations, will have a new arena and a city/county that's more attractive and open to achieving his business goals out of all this.

He can then start to take offers from the local business community in Edmonton to take over the Oilers.

As I've said before...from Day 1 he said he'd be the owner for as long as he has partners sharing the same vision and wishing to do what's necessary to keep the franchise, as a business, successful in Edmonton. Most brushed that off as the usual disclaimers 5 years ago, but I think his actions now show that, rightly or wrongly in people's opinion, he's realizing that he's not getting that support that he requires for himself and his dealings personally.

As a result, the shine is off the stone for him, and he may be figuring that all this hassle isn't worth his time and effort anymore if he's not getting the support he thinks he needs, to make this a viable business for him. Again, people may not like the tactics, but it follows his initial comments regarding a new building desperately, in his opening comments as a cavaet for buying the team in the first place.

[Reggie Dunlop]

*cough* Norm Green *cough*

[MoneyGuy]

Originally Posted by SebC

Are you allowed to run deficits?

No.

[Artie Fufkin]

[You Need a Thneed]

Letter from Katz to Edmonton City Council.

[Jordan!]

Originally Posted by You Need a Thneed

Letter from Katz to Edmonton City Council.

[Joborule]

What a dick.

Can't take a deal that makes him provide too much risk, but he invests very little into.

Where's that $250M he said he'll cover? That'll cover half of the arena costs right there.

Hope Edmonton council tell him to pound sand and fork more dough over for his personal toy.

[You Need a Thneed]

Yeah, I think the last deal pretty much had Katz put zero net dollars into the arena. Not sure how he says he's putting in $250 million.

[Barnes]

Debacle of monumental proportions.

[Locke]

Today is the deadline isnt it? I guess Katz is on his own now, does the original deal expire as well?