Flames Arena, the Saga Continues

[Master Bill]

Doesn't Edwards not even pay tax to Canada? I remember reading something about him switching his residency to London, UK so he doesn't pay taxes here.

The greedy f***er gets richer thanks to Canadian taxpayers lmao

 

[crazyfisherman]

What does the city get for funding this

 

[scoringmachine]

With the Alberta provincial election coming up Danielle Smith is not guaranteed to reelected as premiere of Alberta. So she go out and tries to buy votes by helping pay for the Flames new Arena. As per the Calgary Hearld she said the cabinet has the summer to vote. If she does not win the electio the NDP can review the area deal and chpose to accept or not to accept.

Calgary, province, Flames ownership ink $1.22B deal for new arena

The City of Calgary struck an agreement in principle with the province and Flames ownership on a $1.22-billion deal replacing the Saddledome

calgaryherald.com

 

[viper0220]

How much are the taxes gonna go up?

 

[Kranix]

How much is it going to cost to bulldoze the saddledome

 

[DomBarr]

With the Alberta provincial election coming up Danielle Smith is not guaranteed to reelected as premiere of Alberta. So she go out and tries to buy votes by helping pay for the Flames new Arena. As per the Calgary Hearld she said the cabinet has the summer to vote. If she does not win the electio the NDP can review the area deal and chpose to accept or not to accept.

Calgary, province, Flames ownership ink $1.22B deal for new arena

The City of Calgary struck an agreement in principle with the province and Flames ownership on a $1.22-billion deal replacing the Saddledome

calgaryherald.com

its a deal but well its really just a campaign promise but because the writ has not been dropped it has to be announced as a deal but because of the timeframe its not really a deal because there is no time to get cabinet approval before the writ has to drop so it is well a threat that if you don't vote UCP the arena deal is dead...unless the NDP hold their nose and also support this which makes it their campaign promise (!?!) f*cking politics

 

[BRobMint]

I’m conflicted. I’m happy the thing is finally gonna get built. I’m not happy with the funding. Alberta taxpayers have every right to be pissed

 

[InfinityIggy]

CSEC and Murray laughing all the way to the bank on this. The premise of what is to be built sounds really great, but the city is getting absolutely bent over here.

 

[rfournier103]

Leaving the politics and money out of it - I'm happy the Flames are going to get their new arena. Congratulations.

 

[Roadrage]

Doesn't Edwards not even pay tax to Canada? I remember reading something about him switching his residency to London, UK so he doesn't pay taxes here.

The greedy f***er gets richer thanks to Canadian taxpayers lmao

Last I read, Edwards moved to Switzerland from London a few years ago.

 

[Ace Rimmer]

How much are the taxes gonna go up?

None, because it will be funded on the backs of other projects that will be shelved in favour of the event centre.

That's fine, I pay for shit I don't use all the time. Though in hindsight I should probably be using the library a lot more.

 

[Fig]

Doesn't Edwards not even pay tax to Canada? I remember reading something about him switching his residency to London, UK so he doesn't pay taxes here.

The greedy f***er gets richer thanks to Canadian taxpayers lmao

Yes and no. He pays no taxes to Canada on his personal income.

But he's paying a lot via his Canadian business holdings (ie: CNRL, CSEC etc.). He probably pays more taxes this way in a year than most of all of us combined in our lifetimes.

CSEC and Murray laughing all the way to the bank on this. The premise of what is to be built sounds really great, but the city is getting absolutely bent over here.

Blame Gondek for effing it up over like 5 million in solar panels and sidewalks.

 

[Iggys Dome]

So given the UCP may lose the next election there’s a chance this doesn’t even go through.

I predict the new arena being ready for 2027-2028 season.

 

[DomBarr]

Yes and no. He pays no taxes to Canada on his personal income.

But he's paying a lot via his Canadian business holdings (ie: CNRL, CSEC etc.). He probably pays more taxes this way in a year than most of all of us combined in our lifetimes.



Blame Gondek for effing it up over like 5 million in solar panels and sidewalks.

Murray Edwards doesn't pay those taxes. The business' pay the taxes. I am a shareholder in CNRL as well but I still pay personal income tax AND i don't get a deduction for the taxes CNRL pays, it doesn't show up on the return at all.

 

[Fig]

Murray Edwards doesn't pay those taxes. The business' pay the taxes. I am a shareholder in CNRL as well but I still pay personal income tax AND i don't get a deduction for the taxes CNRL pays, it doesn't show up on the return at all.

Sigh. That's because of a difference between pre-tax and post tax distributions. Dividends are post tax distributions which is why they have dividend tax credits and why you don't get deductions on your share ownership when you acquired them through the stock market. This isn't even including the advanced rules relating to publicly traded companies and if you think "the business pay his taxes so he doesn't pay his taxes..." then you have no idea how the legality of the CPA handbook and the Federal income tax act of Canada work.

Edwards does pay taxes and he pays a lot taxes in Canada even now.

At the minimum, there's foreign withholding tax and there's the taxation of the revenue prior to dividends or outlays. If he pays himself a wage, as a Canadian non-resident for tax purposes, again withholding tax. With new FAPI, UHT and other tax rules, he's paying a ton of money to the Canadian taxpayer base.

I'm not a fan of Murray Edwards myself, but if you want to be mad at him, there's plenty of ways to do so without making stuff up.

 

[HighLifeMan]

CSEC taking the self serving politicians to the cleaners with this deal which at the end of the day only hurts the taxpayers, but unfortunately that's usually always the case. Billions of dollars are wasted on "projects" that are far less tangible for the every day Calgarian than this - so ultimately it's still a win I suppose.

It wouldn't surprise me to see this deal get turfed in the upcoming months.

 

[BobColesNasalCavity]

I’ve seen the layout of the district and all. But has there been a sketch of what the arena/events center will look like?

 

[Fig]

I’ve seen the layout of the district and all. But has there been a sketch of what the arena/events center will look like?

New photos of Calgary's event centre were released & Twitter went crazy

Since it was announced in 2019, Calgary's event centre has caused quite a stir. From budget to location, everyone has had (and is totally

curiocity.com

These are some of the ones out there a few years ago before Gondek blew up the deal. It reminded me of a stapler from some angles.

 

[Nanuuk]

A great deal for all and the investment will spur economic development in the Rivers District and the City.

I have no issues with this at all.

 

[herashak]

I want to know who gets naming rights for the arena since that’s worth 100m+ cash over the life of the arena, if CSEC gets it then this is full on corporate welfare. The project looks like the right one though

 

[BobColesNasalCavity]

New photos of Calgary's event centre were released & Twitter went crazy

Since it was announced in 2019, Calgary's event centre has caused quite a stir. From budget to location, everyone has had (and is totally

curiocity.com

These are some of the ones out there a few years ago before Gondek blew up the deal. It reminded me of a stapler from some angles.

That’s what I’m afraid of. For over a billion dollars put some creativity into it instead of making it look like a warehouse.

 

[Fig]

That’s what I’m afraid of. For over a billion dollars put some creativity into it instead of making it look like a warehouse.

But... but... it has a curve to it and Gondek is going to cover it in solar panels and other green initiatives!

I get what you're saying though. The thing gives vibes like it is going to look like a barn and Noah's ark had a baby and then was covered in solar panels as an afterthought to make it look green while being brown AF.

They need to paint the thing to stick out. Bright yellow and red outlines and stuff or something. Or Digital display that can be used to show things outside and whatnot.

I want to know who gets naming rights for the arena since that’s worth 100m+ cash over the life of the arena, if CSEC gets it then this is full on corporate welfare. The project looks like the right one though

I think I read somewhere that the City gets all fees relating to naming rights... but don't quote me on that. In the end, the city is supposed to own the land and building and the CSEC basically just rent and manage it.

 

[DomBarr]

A great deal for all and the investment will spur economic development in the Rivers District and the City.

I have no issues with this at all.

I'm ok with the outline of the proposed deal. Is it a good deal, as a Calgary based taxpayer absolutely not, as I think at least 50% ($600M) of the cost should have been on CSEC.
I am also not ok with the veiled threat of Danielle Smith basically saying Calgary needs a strong UPC vote to provide the mandate.

This is no deal right now this is now an election platform issue.

 

[DomBarr]

ugh..i hate politics...Notley is saying there is confidential financial agreement included that is not available to view for 6 to 8 weeks.

 

[Some Other Flame]

Blame Gondek for effing it up over like 5 million in solar panels and sidewalks.

LOL that's not what happened

CSEC bailed on the deal because they agreed to cover cost overruns (in exchange for getting to manage to project instead of the city) only to have the whole covid thing make material prices go sky high.

That being said, Grondek & the city got taken to woodshed in this deal. Nenshi was so much better.