Around the NHL XXXVII

[Engineer]

...so the city contributed 275M more than Ottawa.

I didn’t think there was an appetite for that in Calgary according to the mayor. And yet he found 275M to contribute. I think that was the right call.

Still, it certainly must be nice, but do we think Ottawa would have come anywhere close to that kind of commitment ?

The big difference here is the city owns the arena and receives a cut of every ticket sold to the arena, they’ll make back their investment and there is no tax increase to pay for it.

Melnyk wanted the city or Trinity to pay for the arena for his ownership. What’s the benefit as a taxpayer/the city for that?

 

[Sens]

The big difference here is the city owns the arena and receives a cut of every ticket sold to the arena, they’ll make back their investment and there is no tax increase to pay for it.

Melnyk wanted the city or Trinity to pay for the arena for his ownership. What’s the benefit as a taxpayer/the city for that?

Of course the Melnyk supporters want that piece of shit to get a free ride... f*** that

 

[Fandlauer]

I would have no problem with the city contributing to a new downtown arena with the team under different ownership. That being said, I'd rather see the team relocate than have my tax dollars given to Eugene Melnyk.

 

[Gil Gunderson]

...so the city contributed 275M more than Ottawa.

I didn’t think there was an appetite for that in Calgary according to the mayor. And yet he found 275M to contribute. I think that was the right call.

Still, it certainly must be nice, but do we think Ottawa would have come anywhere close to that kind of commitment ?

Melnyk wouldn’t be able to contribute 275 mil lol.

 

[BonkTastic]

Melnyk wouldn’t be able to contribute 275 mil lol.

This is sadly probably the truth. I mean, that's about half of the value of the team itself right there.

I don't think there's enough liquidity in his wealth nor enough financing available to him to raise that kind of money. Having to find that much free capital would probably involve him taking on a partner, and we all know how popular Melnyk has made himself to local partners over the years...

 

[Tnuoc Alucard]

...so the city contributed 275M more than Ottawa.

I didn’t think there was an appetite for that in Calgary according to the mayor. And yet he found 275M to contribute. I think that was the right call.

Still, it certainly must be nice, but do we think Ottawa would have come anywhere close to that kind of commitment ?

I think that the Mayor was against any public money, when there was an upcoming election on the horizon.


Let's not forget that the failed Lebreton deal had the taxpayer picking up the cost of soil remediation, and was estimated to have been much more than what Calgary just invested.

 

[BonkTastic]

I think anyone who is getting their hopes up about a new downtown arena in Ottawa based on the Calgary anouncement are just setting themselves up for disappointment.

The team is not leaving Kanata for a while. In fact, I'd say there's a much higher chance of Melnyk finding some sponsorship money to help renovate and update CTC than there is of us moving downtown any time soon.

The Lebreton bid was the only realistic chance of a downtown arena in the next decade, if not longer. We're in Kanata for the long haul, IMO.

 

[Micklebot]

Invest 275 million, get a return (hopefully) of 400 million, and have a new arena available for some public use. Seems like a win for the taxpayers....assuming the 400 return figure will be accurate.

That is what, a 1% per year return on the investment? Honestly if you are looking for a financial win for taxpayers there are better ways to do it. You could turn 275 mil into 400 mil over 35 years by putting it into your savings account....

Idk, there is certainly room for public invesment if the community gets something in return, finding that balance is the key.

 

[YouGotAStuGoing]

Idk, there is certainly room for public invesment if the community gets something in return, finding that balance is the key.

Absolutely. But when the option of community return isn't there, it baffles me that some still think publicly funded arenas are a rational idea. If an owner can afford to build a new arena, they should do so. If they can't, they should get out of the game or wait until they can. Attempting to hold a city hostage for a portion of the funding is such a scummy move.

 

[Tnuoc Alucard]

I think anyone who is getting their hopes up about a new downtown arena in Ottawa based on the Calgary anouncement are just setting themselves up for disappointment.

The team is not leaving Kanata for a while. In fact, I'd say there's a much higher chance of Melnyk finding some sponsorship money to help renovate and update CTC than there is of us moving downtown any time soon.

The Lebreton bid was the only realistic chance of a downtown arena in the next decade, if not longer. We're in Kanata for the long haul, IMO.

The general rule with any of these Arenas, when built, is that they have about a 35 expected life span. As the CTC opened in January 1996, that gives it until January of 2031, to reach 35 years of operation.

There was never a rush to move to a new arena, as far as EM was concerned, but he was asked by the NCC to be part of the Bidding process, and saw an opportunity to realize some profits, by getting into the Condo building business.

 

[PeterSidorkiewicz]

New arena coming to calgary, 50/50 investment split between Calgary and CSEC. 100% owned by the city and expected to bring in $400m in revenue to the city over 35 years.

One block North of the Saddledome so can be used by the Stampede for concerts as well.


....must be nice.

I am not going to analyze it too much, but I think the community and social benefits section is hilarious. All of that can be accomplished without a state of the art sports arena.

On the other side, the city getting a cut makes sense to me.

 

[Hale The Villain]

Clarkson goes for Sparks, 4th

Knew it wouldn't take a lot for Vegas to move his LTIR deal, given the money owed for the rest of the year is minimal

Interesting trade for the Leafs. Didn't see them as the team that would take on his contract.

 

[Sensmileletsgo]

I am not going to analyze it too much, but I think the community and social benefits section is hilarious. All of that can be accomplished without a state of the art sports arena.

On the other side, the city getting a cut makes sense to me.

As a Calgarian I would like to hear why you find that hilarious (not been rude I’d actually like to hear your input). Seems like most of my country music friends are pissed that no stars want to come to Calgary to play in the crappy old Saddledome.

 

[Senscore]

Clarkson goes for Sparks, 4th

Knew it wouldn't take a lot for Vegas to move his LTIR deal, given the money owed for the rest of the year is minimal

Interesting trade for the Leafs. Didn't see them as the team that would take on his contract.

He only needs to leave and come back to Toronto one more time for the prophecy to come true.

 

[danielpalfredsson]

A 4th is too little to take on that contract. Especially in the current cap climate.

I'm not going to talk crap about the Leafs for getting a free 4th, but as critical as I have been for the Senators not weaponizing our cap space, I understand not wanting to cave to such a low level of compensation.

(Also, there's no way Melnyk is spending six figures post insurance on a 4th round pick)

 

[danielpalfredsson]

He only needs to leave and come back to Toronto one more time for the prophecy to come true.

It's fun to joke, but we apparently almost signed him.

Maybe it would have worked out better in the end. I'm guessing if we paid Clarkson, there would have been no money for Ryan, and Clarkson eventually ended up on insured LTIR.

That summer was a fork in the road for the Senators. If we paid Alfredsson what he wanted to compensate him for the 1M year he just played, there also would have apparently been no money to upgrade the team with Ryan or Clarkson. One of Murray's selling points to Alfredsson was that if he took that Senators offer at lower than what Alfredsson was asking, there'd be money to get Ryan. I'm guessing money wise, MacArthur was our Alfredsson replacement.

 

[DueDiligence]

Invest 275 million, get a return (hopefully) of 400 million, and have a new arena available for some public use. Seems like a win for the taxpayers....assuming the 400 return figure will be accurate.

That $400 million is the return over 30 years whereas the $275 million is in the next few years. The tax payer will still come out on the losing end and that's before cost overruns on construction!

 

[Micklebot]

A 4th is too little to take on that contract. Especially in the current cap climate.

I'm not going to talk crap about the Leafs for getting a free 4th, but as critical as I have been for the Senators not weaponizing our cap space, I understand not wanting to cave to such a low level of compensation.

(Also, there's no way Melnyk is spending six figures post insurance on a 4th round pick)

The move allows them to use more of their LTIR room. Adding clarksson actually helps their cap situation because it brings them closer to the cap. Its a really wierd situation...

 

[Micklebot]

That $400 million is the return over 30 years whereas the $275 million is in the next few years. The tax payer will still come out on the losing end and that's before cost overruns on construction!

It also is largely based on property tax revenue from what i understand. I suspect they could have generated similar or better incremental tax revenues through more efficient means but i am no expert.

 

[Ice-Tray]

Sometimes you have to pay to play, literally. This arena will revitalize the area for bigger shows, surrounding business, etc. the city will own the arena, and there is no increase in property tax to fund it. Those, at the very least are some positives.

It seems like a much better investment than the Olympic bid that they backed out of at the last minute.

Sometimes a new stadium downtown does actually make a downtown a better place.

 

[Tuna99]

After the way he has acted to the fans, the media, the politicians and the players I don’t want to see Melnyck benefit from tax payer money in a city he’s talked down and doesn’t even live in.

Make funding of the arena contingent on a new owner because it’s disgusting to think he’ll get free money

 

[maclean]

A 4th is too little to take on that contract. Especially in the current cap climate.

I'm not going to talk crap about the Leafs for getting a free 4th, but as critical as I have been for the Senators not weaponizing our cap space, I understand not wanting to cave to such a low level of compensation.

(Also, there's no way Melnyk is spending six figures post insurance on a 4th round pick)

My understanding was that he'd be going on LTIR with Horton so would somehow be freeing up cap space at only real money cost but I'll admit my understanding of this trade is tenuous at best

 

[Tnuoc Alucard]

I am not going to analyze it too much, but I think the community and social benefits section is hilarious. All of that can be accomplished without a state of the art sports arena.

On the other side, the city getting a cut makes sense to me.

 

[PeterSidorkiewicz]

As a Calgarian I would like to hear why you find that hilarious (not been rude I’d actually like to hear your input). Seems like most of my country music friends are pissed that no stars want to come to Calgary to play in the crappy old Saddledome.

Because I would argue those social impacts work far greater on a small scale rather than a large scale like a large sports arena.

You get a far greater sense of community with neighborhood groups, farmers markets, community gardens, co-ops, sharing programs than something like this.

And from personal experience and my actual example the move from the JLA to little careers arena in Detroit hasn’t accomplished any of that. There are far better areas that install community pride in Detroit than little Caesars arena.

 

[PeterSidorkiewicz]

Good video. I’m not necessarily saying it’s a bad deal it’s just that one portion of the image made me chuckle when I read it, that’s all.