Quote:
Originally Posted by Oilkountry
Katz used the citys money to leverage his franchises profitability. In the end he will see a return but let's stop acting like he got an arena handed to him. $125 million ticket surcharge is potential revenue that he will directly lose out on. He could be pocketing that cash in ticket increases. $137.81 million from lease revenue is an annual payment that the oilers will have to pay, Profitable or not. $23.68 million is petty change to darryl katz but is probably multiple years of concert profits.
In the end The Arena will Be paid for and the city of Edmonton will only be on the Hook for the taxes from the arena and COE building, and will eventually see a return on the project. The Oilers definitely paid a large chunk of that arena cost although they didnt finance it. The CRL worked this time...and that's only phase 1 of ice district thus far.
long term...Win Win
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We do not know if the CRL worked yet. Waaaaay too early to say at this point.