[News] Calgary, Alberta, & CSEC agree in principle to $1.223bn Event Centre + infrastructure

[Mathgod]

It's more than 10x as expensive to build a new arena than it was 40 years ago. Wow.

[Rutuu]

Originally Posted by topfiverecords

Anything is possible in a renovation but sometimes it takes a whole restart for an organization to use the clean slate as a push to innovate and rethink the overall program.

I still expect a new rink in Calgary to be “new” but again limited in food/bev offerings compared to other places, poor game presentation, dull marketing promotions and around arena pregame atmosphere. There’s nothing about CSEC that gives me confidence they’re going to develop an exciting product.

Yup. You'd have to clean out the whole front of house. Murray is an accountant. He's got a "control costs" mentality, not a growth mentality. How else could you sit on a project as profitable for the franchise and redefining for nearly a decade, so you could get a handout from the government?

The tiger isn't changing its stripes.

[Weitz]

Originally Posted by Torture

Totally agree.
But then Murray Edwards wouldn't make quite as much money off exclusive contracts.

There was only one bid for the beer contract when original 16 (or whoever owns it) won. Not sure how much you’re making with one bid.

[ComixZone]

Originally Posted by drewtastic

As a STH, all I can say is that we’d better damn well get a new-arena-unveiling that at least rivals this one…

https://youtu.be/7LlE5VXubWE

…I’d be demanding that they do it in exactly the same fashion. Unrivalled.

Costumes, dancing, everything. Do it all again.

[Rutuu]

Originally Posted by Fighting Banana Slug

I was at that game. It was as bad live as it is on that video. The best was the dancing on that carpet. The whole thing moved as the dancers went from one side to the other. Surprised no one fell down because of it.

Even worse, we lost.

I'd bet my house we get #####-kicked on opening night of the new barn.

[Moneyhands23]

Originally Posted by Rutuu

I'd bet my house we get #####-kicked on opening night of the new barn.

That's the spirit!

[PuckSlap]

Originally Posted by Rutuu

I'd bet my house we get #####-kicked on opening night of the new barn.

Let's not get carried away. It will be more of a brutal beatdown.

Sent from my Pixel 7 Pro using Tapatalk

[GUnit]

It'll be a beatdown of broken Connor and used goods pissy , book it

[Reggie Dunlop]

Originally Posted by drewtastic

As a STH, all I can say is that we’d better damn well get a new-arena-unveiling that at least rivals this one…

https://youtu.be/7LlE5VXubWE

Hot damn... now THAT, my friends.... is ENTERTAINMENT!

As uniquely Calgarian as the Young Canadians getting trashed by the Herald critic the next day.

[Locke]

Originally Posted by drewtastic

As a STH, all I can say is that we’d better damn well get a new-arena-unveiling that at least rivals this one…

https://youtu.be/7LlE5VXubWE

Wow. Just...wow...

[memphusk]

Will have to be there live to see it. Sportsnet will cut to a break and we would miss it.

[JBR]

Originally Posted by GUnit

It'll be a beatdown of broken Connor and used goods pissy , book it

Rangers on opening night?

[Paulie Walnuts]

https://calgaryherald.com/news/local...-of-deal-grows

Looks like Sharp and Gondek got fooled by Edwards and Smith.

[Lanny_McDonald]

Well that’s what a biased article with details from an uninvolved third party and no access to the agreement is saying. I also think he should return his business diploma. He’s complaining about the construction costs being one sided and the Flames making their payments over time. That is what happens when you own a building and then lease it out. Also, what business in their right mind is going to sign a lease where they pay more in years of positive revenue but still pay the same in years of poor or negative revenue? Yeah, I want this guy representing or running my business. What a terrible article.

[Erick Estrada]

Originally Posted by GUnit

It'll be a beatdown of broken Connor and used goods pissy , book it

I don't think the building will open in two years. By the time they open it McDavid and Draisaitl will be playing on different teams.

[marsplasticeraser]

Originally Posted by Lanny_McDonald

Well that’s what a biased article with details from an uninvolved third party and no access to the agreement is saying. I also think he should return his business diploma. He’s complaining about the construction costs being one sided and the Flames making their payments over time. That is what happens when you own a building and then lease it out. Also, what business in their right mind is going to sign a lease where they pay more in years of positive revenue but still pay the same in years of poor or negative revenue? Yeah, I want this guy representing or running my business. What a terrible article.

Having worked in commercial real estate 25 years ago it was common (at least then) for the landlord to take a sliding scale of revenues in addition to base rent.

[Enoch Root]

Originally Posted by topfiverecords

Anything is possible in a renovation but sometimes it takes a whole restart for an organization to use the clean slate as a push to innovate and rethink the overall program.

I still expect a new rink in Calgary to be “new” but again limited in food/bev offerings compared to other places, poor game presentation, dull marketing promotions and around arena pregame atmosphere. There’s nothing about CSEC that gives me confidence they’re going to develop an exciting product.

Sadly, this is exactly my expectation as well.

[Torture]

Originally Posted by Lanny_McDonald

Well that’s what a biased article with details from an uninvolved third party and no access to the agreement is saying. I also think he should return his business diploma. He’s complaining about the construction costs being one sided and the Flames making their payments over time. That is what happens when you own a building and then lease it out. Also, what business in their right mind is going to sign a lease where they pay more in years of positive revenue but still pay the same in years of poor or negative revenue? Yeah, I want this guy representing or running my business. What a terrible article.

Whether the lease payment goes up or down with revenue, businesses typically expect to make more money than they originally put in when they construct a building and lease it out. I believe the technical term for this is "profit".

[Infinit47]

Originally Posted by Torture

Whether the lease payment goes up or down with revenue, businesses typically expect to make more money than they originally put in when they construct a building and lease it out. I believe the technical term for this is "profit".

Is it not normal to build a building and to lease it for 35 years to make back half your money?

I gave this deal time to see what the details were, but with it coming out that CSEC is getting all the revenue I can't support this iteration of an arena deal.

I will of course see what comes out today, but I'm worried we will see even more goodies for CSEC. Perhaps some property tax breaks if they develop property in the area.

[zuluking]

Originally Posted by Paulie Walnuts

https://calgaryherald.com/news/local...-of-deal-grows

Looks like Sharp and Gondek got fooled by Edwards and Smith.

Or maybe you got fooled by some random guy who tilts at windmills. Like, seriously, how do they construct an article around some guy that ... ooooooo ... is an engineer WITH a business diploma who self-professes to know a thing or two about business deals. But in reality doesn't know anything more than the next guy, but rather makes a bunch of assumptions to feed his faux outrage.

Thanks, Herald and all, for foisting a bunch of unsubstantiated clickbait on the rest of us, and making us have to do YOUR due diligence to discover that this is just an attention seeker with no relevant credentials or insider information.