• Video Link
https://www.thestar.com/halifax/2018...w-stadium.html
The rugby international set for this weekend is a couple hundred tickets away from selling out. 6,200 total.
Quote:
Originally Posted by someone123
If I were betting on this I'd say there's a pretty good chance of the stadium happening. Maybe 60%. That will rise to 70% or 80% if the stadium proposal comes out and the financial demands on the city aren't too high.
|
Council deliberation is set for July 17th as to whether or not they will proceed with looking into the stadium.
I'll be a bit more pessimistic and slot the odds at 40-50%. Halifax absolutely needs a large stadium for the region but i'm not convinced the potential CFL owners have the capital and potential revenue capture to ensure that they will be mainstay tenants for a decade plus (I have some doubts regarding the potential ownership team, as well as the mental math regarding the team turning a profit in the short term). If I were a city councillor i'd be skeptical of their overall business plan, particularly if they're approaching with no financial numbers as of yet.
A lot of it is going to depend on how hungry Council is for a stadium. We know the Mayor is. It's going to be a balancing act between capital being brought forward by the potential CFL owners, willingness from Council, and potential funding from other levels of government.
Quote:
Originally Posted by someone123
The whole point of the municipal government is they invest in projects for the good of the city at a loss.
|
Absolutely. Lansdowne, the model for which the potential CFL owners are basing themselves off of, loses money annually with large-scale tenants and multiple sports teams calling the stadium/arena home. The issue begins to arise if the stadium is losing money
and the team is losing money simultaneously. Ottawa City put in $173M of the total $291M pricetag for the entirety of Lansdowne Park (Park, trade pavilion, retail, stadium, and arena), so Halifax is looking at a lighter pricetag without the additional amenities attached to the greater Lansdowne project. However, in subtracting things like parks and trade pavilions you're reducing the amount of public benefit of the project as a whole, and it becomes less of an ideal comparison the more you subtract.
I suppose we'll have to wait and see how things play out.