09-13-2017, 11:59 AM
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#1
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Franchise Player
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Sounds like this was/is pretty close before things went public. Hopefully that means negotiations can resume and get concluded quickly after a little bit of a cooling off period.
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09-13-2017, 12:00 PM
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#2
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Powerplay Quarterback
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So the flames are basically shutting down the city because they want to get their money back? Get out of here
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09-13-2017, 12:03 PM
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#3
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Franchise Player
Join Date: Mar 2007
Location: Income Tax Central
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That sounds perfectly reasonable. Whats the problem with that?
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09-13-2017, 12:05 PM
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#4
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First Line Centre
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has there been a comment from Nenshi/Council yet?
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09-13-2017, 12:06 PM
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#5
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Franchise Player
Join Date: Feb 2006
Location: Calgary, AB
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Quote:
Originally Posted by MacDaddy77
has there been a comment from Nenshi/Council yet?
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They will be releasing info shortly...
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09-13-2017, 12:08 PM
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#6
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Franchise Player
Join Date: Nov 2003
Location: Calgary, AB
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Nenshi is scrumming with the media right now
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09-13-2017, 12:08 PM
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#7
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Franchise Player
Join Date: Feb 2010
Location: Hyperbole Chamber
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So assuming a $200M City contribution, the City would need to recoup $6.66 million per year through some means.
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09-13-2017, 12:09 PM
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#8
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Franchise Player
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This reminds me of collective bargaining negotiations between Bettman and PA. Close but far.
I'm sure in the end this well get done. The threats are funny.
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09-13-2017, 12:11 PM
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#9
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Franchise Player
Join Date: Mar 2007
Location: Income Tax Central
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See....this is what people hate about Sports Arena deals.
They want everything for nothing.
A repayment of initial investment over 30 years? Over the context of overall operations that is completely insignificant.
If this is true I'm really disappointed in CSEC.
"We want what we want and we want it now and we dont want to pay for it! We dont even want our fans to indirectly pay for it over time! It should be free!"
__________________
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If you are flammable and have legs, you are never blocking a Fire Exit. - Mitch Hedberg
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09-13-2017, 12:13 PM
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#10
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First Line Centre
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This is really embarrassing for the Flames tbh. They're coming off as the children in the room.
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09-13-2017, 12:13 PM
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#11
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Franchise Player
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I wonder if revenue sharing was scuttled because of how hockey related revenue is defined in the CBA vs how the City would view revenue. Even discounting non-hockey events and their revenue, this kind of exploration of revenue sharing might shed some unwanted light in how revenue in the NHL is accounted for.
Just thinking out loud.
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09-13-2017, 12:13 PM
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#12
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Some kinda newsbreaker!
Join Date: May 2004
Location: Learning Phaneufs skating style
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I am pretty sure that CSEC's position is that the city's contribution should be a CRL and paid back via the incremental property taxes for the this new entertainment district and not be paid back by CSEC.
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09-13-2017, 12:14 PM
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#13
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Powerplay Quarterback
Join Date: Jul 2013
Location: Calgary
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So CSEC wants the $200 million field house money from the CalgaryNext proposal that the city was going to pay for to go to the arena instead and not pay the city back - does that sum things up essentially?
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09-13-2017, 12:17 PM
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#14
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First Line Centre
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Quote:
Originally Posted by Locke
"We want what we want and we want it now and we dont want to pay for it! We dont even want our fans AND OTHER TAXPAYERS WHO DON'T GIVE A F*** ABOUT THE SPORT to indirectly pay for it over time! It should be free!"
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Fixed for You
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09-13-2017, 12:17 PM
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#15
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#1 Goaltender
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Quote:
Originally Posted by sureLoss
I am pretty sure that CSEC's position is that the city's contribution should be a CRL and paid back via the incremental property taxes for the this new entertainment district and not be paid back by CSEC.
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Just to add on here...using my financial wizardry skills:
The city has offered a loan $150-200m with full recoupment of costs. The value of what the city is proposing is worth between C$50-75m based on whether the size of the loan is $150-200m. That works out to a funding ratio of 11-12% based on an arena cost of $450-600m.
The CSEC has asked for 1/3 of arena cost with no recoupment, equating to $150-200m. So the flames are asking for a funding ratio of 33%.
The two sides are off by C$100-125m
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09-13-2017, 12:17 PM
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#16
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Powerplay Quarterback
Join Date: Apr 2015
Location: ...the bench
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well they're closer than I thought they were
now it comes down to recouping the loan.
City wants tangible repayment somehow
CSEC says by building the building, businesses will come and create a new tax base, = repayment.
TBH I think CSEC is wrong and it's just 'displaced tax revenue', businesses moving from one area to another. But what do I know?
At least we're discussing a new arena, not CalgaryNEXT. Rather have them 150ish million apart, than the 1.*Billion we were discussing earlier....
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09-13-2017, 12:18 PM
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#17
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Franchise Player
Join Date: Mar 2007
Location: Income Tax Central
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Quote:
Originally Posted by The Hendog
So CSEC wants the $200 million field house money from the CalgaryNext proposal that the city was going to pay for to go to the arena instead and not pay the city back - does that sum things up essentially?
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Except I think they want more than that $200M aaaaand they wont provide a Fieldhouse.
Something for nothing.
I'm actually surprised that the CSEC and the NDP dont get along, they share very similar views.
__________________
The Beatings Shall Continue Until Morale Improves!
This Post Has Been Distilled for the Eradication of Seemingly Incurable Sadness.
If you are flammable and have legs, you are never blocking a Fire Exit. - Mitch Hedberg
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09-13-2017, 12:19 PM
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#18
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Franchise Player
Join Date: Nov 2008
Location: the dark side of Sesame Street
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CSEC:
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09-13-2017, 12:26 PM
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#19
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Some kinda newsbreaker!
Join Date: May 2004
Location: Learning Phaneufs skating style
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Shawn LoganVerified account @ShawnLogan403
Mayor @nenshi expressed puzzlement over Flames ditching arena quest. Says he'll release deets of both sides' proposals in days ahead #yyccc
Shawn LoganVerified account @ShawnLogan403
As far as @nenshi was concerned, he feels negotiations hadn't reached an impasse and were still ongoing.
Shawn LoganVerified account @ShawnLogan403
Arena price tag proposed to be about $550 million. Cost break down loosely split a third apiece for city/owners/ticket surcharge #yyccc
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09-13-2017, 12:29 PM
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#20
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Franchise Player
Join Date: Mar 2007
Location: Income Tax Central
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Quote:
Originally Posted by sureLoss
Shawn LoganVerified account @ShawnLogan403
Mayor @nenshi expressed puzzlement over Flames ditching arena quest. Says he'll release deets of both sides' proposals in days ahead #yyccc
Shawn LoganVerified account @ShawnLogan403
As far as @nenshi was concerned, he feels negotiations hadn't reached an impasse and were still ongoing.
Shawn LoganVerified account @ShawnLogan403
Arena price tag proposed to be about $550 million. Cost break down loosely split a third apiece for city/owners/ticket surcharge #yyccc
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See....in my mind thats pretty reasonable. For the CSEC to halt talks over that is the opposite of reasonable.
"You get a new arena for less than $200M" and they stamp their feet, throw a tantrum and take their ball and go home?
Somebody needs a 'time-out' and its not the City.
__________________
The Beatings Shall Continue Until Morale Improves!
This Post Has Been Distilled for the Eradication of Seemingly Incurable Sadness.
If you are flammable and have legs, you are never blocking a Fire Exit. - Mitch Hedberg
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