Hurricanes getting $300 million from local government for PNC Arena upgrades, sign 20 year lease extension

[MMC]

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[Svechhammer]

Canes are going to be playing in Raleigh for a very long time to come

Also,

 

[Chrispy]

Canes sign a lease extension through 2044 as part of the investment in PNC and the surrounding area.

 

[Svechhammer]

On top of the $300m the state has allocated to the arena, Gale Force (owned by Dundon and the Canes) has committed at least $800m to developing the area around it. In total, this is over a $1.1billion project

 

[LemonSauceD]

If their local tv ratings don’t significantly improve I feel like they’re a perfect option for Quebec City.

Quebec isn’t ever gonna happen under Bettman.

 

[Tawnos]

If their local tv ratings don’t significantly improve I feel like they’re a perfect option for Quebec City.

The team is in good health financially, whatever the tv ratings. Good enough that the notoriously stingy owner is making a major investment in the area around the arena.

 

[Svechhammer]

If their local tv ratings don’t significantly improve I feel like they’re a perfect option for Quebec City.

lol ain't happening til at least 2045, but keep wishing.

 

[Primary Assist]

If their local tv ratings don’t significantly improve I feel like they’re a perfect option for Quebec City.

The Canes are a model Sunbelt team, as much as it kills me to say that as a Leafs fan in the Ayers era. The team won't be and shouldn't be moving anytime soon

 

[MikeFolignosHelmet]

This really puts on kibosh on the talk of relocating after the lease ran out. Having a team in one of the fastest gowning areas in the US is a no brainer.

 

[Joe McGrath]

If their local tv ratings don’t significantly improve I feel like they’re a perfect option for Quebec City.

Is this satire?

 

[Tawnos]

This really puts on kibosh on the talk of relocating after the lease ran out. Having a team in one of the fastest gowning areas in the US is a no brainer.

It'd be better if they were in Charlotte

 

[joelef]

If their local tv ratings don’t significantly improve I feel like they’re a perfect option for Quebec City.

This is why people don’t like the Quebec fans.

 

[Unsustainable]

The team is in good health financially, whatever the tv ratings. Good enough that the notoriously stingy owner is making a major investment in the area around the arena.

PK no longer owns the Canes, and hasnt since weve been on the upswing and spending to the cap.

Dundon is quite the opposite

 

[Tawnos]

PK no longer owns the Canes, and hasnt since weve been on the upswing and spending to the cap.

Dundon is quite the opposite

I was actually referring to Dundon, though. I didn’t qualify it. I didn’t really mean stingy in the sense of cheap, but more in the sense of not being generous at all with his money. Dundon runs a a really, really tight ship. He’s willing to spend money but at the same time, keeping costs tightly under control is a huge part of his methods.

Point being, he’s not spending the money to develop the area around the home of one of his assets if that asset is struggling.

 

[aqib]

I was actually referring to Dundon, though. I didn’t qualify it. I didn’t really mean stingy in the sense of cheap, but more in the sense of not being generous at all with his money. Dundon runs a a really, really tight ship. He’s willing to spend money but at the same time, keeping costs tightly under control is a huge part of his methods.

Point being, he’s not spending the money to develop the area around the home of one of his assets if that asset is struggling.

I would think building an entertainment district around the arena would be a great investment wouldn't it?

 

[Tawnos]

I would think building an entertainment district around the arena would be a great investment wouldn't it?

I would say that it depends on the circumstances. The two circumstances where it probably works best are either when it's a brand new building or when the anchor tenant is on solid financial footing.

 

[Svechhammer]

I was actually referring to Dundon, though. I didn’t qualify it. I didn’t really mean stingy in the sense of cheap, but more in the sense of not being generous at all with his money. Dundon runs a a really, really tight ship. He’s willing to spend money but at the same time, keeping costs tightly under control is a huge part of his methods.

Point being, he’s not spending the money to develop the area around the home of one of his assets if that asset is struggling.

Dundon has routinely paid his own money to help build up what was depressed around this team and in that area. He randomly closed off the upper deck right after he bought the team, asking everyone with a ticket to sit GA in the lower bowl at no extra cost for a few games in 2018. He fronted the cost of bringing the Stadium Series to Raleigh when the media and league thought it was going to be a failure with no fan support. He spends to the cap every year and just paid Aho a 8 year $10m contract to remain the face of the franchise for the remainder of the decade.

He is not cheap. He is not stingy. He invests where there is opportunity to grow, and has consistently done that since buying the team. If you want to look for the cheap, stingy owner, we have one in NC, he just happens to own the Panthers.

 

[Tawnos]

Dundon has routinely paid his own money to help build up what was depressed around this team and in that area. He randomly closed off the upper deck right after he bought the team, asking everyone with a ticket to sit GA in the lower bowl at no extra cost for a few games in 2018. He fronted the cost of bringing the Stadium Series to Raleigh when the media and league thought it was going to be a failure with no fan support. He spends to the cap every year and just paid Aho a 8 year $10m contract to remain the face of the franchise for the remainder of the decade.

He is not cheap. He is not stingy. He invests where there is opportunity to grow, and has consistently done that since buying the team. If you want to look for the cheap, stingy owner, we have one in NC, he just happens to own the Panthers.

This is still really missing the point of what I was said. I clarified that I'm not saying he doesn't spend money. Let me see if I can re-phrase again. Everything you mentioned falls under the umbrella of spending money to make money. He definitely does that, but he does it in a way that's particularly... conservative, maybe? There's no extravagance in what he does. If money needs to be spent to make the team competitive or to grow revenue streams, he'll spend it. That's where it ends. I mean, even $10m for the face of the franchise isn't an extravagant amount. You might think it is after the shoestring spending of Karamanos, but it's barely even a top-20 contract in the league.

 

[Nico Cauzuki]

If their local tv ratings don’t significantly improve I feel like they’re a perfect option for Quebec City.

people still have hope for Quebec city ? let it go its not happening

 

[Svechhammer]

This is still really missing the point of what I was said. I clarified that I'm not saying he doesn't spend money. Let me see if I can re-phrase again. Everything you mentioned falls under the umbrella of spending money to make money. He definitely does that, but he does it in a way that's particularly... conservative, maybe? There's no extravagance in what he does. If money needs to be spent to make the team competitive or to grow revenue streams, he'll spend it. That's where it ends. I mean, even $10m for the face of the franchise isn't an extravagant amount. You might think it is after the shoestring spending of Karamanos, but it's barely even a top-20 contract in the league.

I repeat.... He fronted $50m to bring the Stadium Series to Raleigh in an event that many have said has been one of the best outdoor game environments since the inception of the event.

 

[Tawnos]

I repeat.... He fronted $50m to bring the Stadium Series to Raleigh in an event that many have said has been one of the best outdoor game environments since the inception of the event.

I don't see how this is a counterpoint to what I'm saying.

 

[Svechhammer]

I don't see how this is a counterpoint to what I'm saying.

Fronting $50m for an event everyone (wrongly) tells you is a moneypit of a venture isn't being anything close to the level of conservative you accuse him of being with his money

 

[Chrispy]

This is still really missing the point of what I was said. I clarified that I'm not saying he doesn't spend money. Let me see if I can re-phrase again. Everything you mentioned falls under the umbrella of spending money to make money. He definitely does that, but he does it in a way that's particularly... conservative, maybe? There's no extravagance in what he does. If money needs to be spent to make the team competitive or to grow revenue streams, he'll spend it. That's where it ends. I mean, even $10m for the face of the franchise isn't an extravagant amount. You might think it is after the shoestring spending of Karamanos, but it's barely even a top-20 contract in the league.

You mean, the businessman is running the sports franchise like a business and investing money where he expects the most direct return?

I don't think the question is why Dundon is so "conservative" with the money spent on the franchise (I think the better word is "strategic"), The question is why on Earth other owners wouldn't spend the same way.

 

[Blackhawkswincup]

Appears to be good deal as everyone gets what they want even fans here (Tailgating culture is bigger in South and always has been)

 

[cg98]

If their local tv ratings don’t significantly improve I feel like they’re a perfect option for Quebec City.

A team whose ownership is putting down its own $800mil out of a $1.1bil investment in facility renovations and property developments, doesnt sound like a team thats ever moving to Quebec willingly. Keep dreaming.