I'd prefer OHL too but if this is what it takes to get the Yardmen Arena renovated properly, I don't mind having an AHL team here for 7 or 8 years.
I think it will work well though. We are right in the middle of 3 regions: Leafs, Canadiens, Senators. Up until 2 years ago, Belleville was barely within the Sens tv broadcast region. If the Sens were playing one game and the Leafs or Habs were playing another, we were forced to watch the Sens (provided the other broadcasts were regional). Therefore, we have some Sens fans here (in addition to other fans - I'm Leafs). By being in Belleville the Sens can strengthen their fan base here. Kids will grow up with the AHL Sens. Some will become Sens fans because of the team, some won't. When Toronto's and Montreal's teams come, their fans really won't have to travel far. If I'm a Habs fan in Kingston or a Leafs fan in Peterborough, I'd travel on occasion to see my favorite NHL team's prospects. Therefore, they're strengthening their fan base and attracting rival fans just like their games in Ottawa (profits).