Discussion in 'Fugu's Business of Hockey Forum' started by AllByDesign, Feb 22, 2011.
Feds are keeping the pursestrings tight.... Implications for Edmonton?
$430 million seems like a lot, but the place is 101 years old an needs to be replaced sooner than later.
Quebec part II, the feds will give 0.00$
This feds will give no money to this project unless their is "amateur component" to it similar to the Bomber stadium.
Time for Regina, the province and the Saskatchewan Roughriders to get realistic and build a $150-$200 million outdoor stadium.
With the price they're floating, not to mention the retractable-roof component, I'm wondering what they have planned for this thing. There's no way that they'd be building something like that for the sake of nine CFL games, plus a handful of concerts and maybe some university sports.
It may be a goofy thought, but perhaps they could put ice-making facilities in this stadium and give the Regina Pats a new home while they're at it (just curtain off half the stadium, not unlike how the Spurs curtained off half of the Alamodome for their games when they still played there).
It's not that goofy a thought, since they already have this in mind:
another option would be the ottawa civic center model. The arena is housed under the football stands, and should keep that configuration once the new stands are built for the new CFL team.
designed right, hockey and football could share concessions, parking, convention space, restaurants, etc.
I didn't see that picture in my travels
and now a deal has been struck with NO federal money for a new stadium in Regina: http://www.tsn.ca/cfl/story/?id=400615
It's precedent... also Calgary will now have the oldest stadium in the CFL, so maybe the Flames and Stamps hook up on some new giant arena - stadium combination.
I don't know.... a joint football/hockey arena just screams all kinds of jank to me.... if baseball/football combos were bad, then I can only imagine how this would be messed up if they seriously tried to make a permanent NHL/CFL arena/stadium.... a shared complex with joint parking makes sense where each team has different physical buildings makes sense, though.
Plus..... sheesh, still seems like an awfully huge pricetag for an arena in a sport that brings in as little money as the CFL.
Screw you Calgary! You better get NO MONEY.
Your idiot MPs were the first to whine when there were discussions of QuÃ©bec getting money for the new ColisÃ©e. And prevented it from happening!
Well have fun with NO federal money for your proposed stadium now!
Wow, good overreaction. Where was there any suggestion in this Regina thread that Calgary was getting federal cash for a stadium?
It is ridiculous. The kind of people that think this is money well spent are likely the types that thought Tony Clements gazebos were good value.
Funding breakdown goes like this:
$80 million from the Province of Saskatchewan
$73 million from the City of Regina
$100 million from the Province to Regina as a loan to be repayed over 30 years
$25 million from the Saskatchewan Roughriders (Sponsorship, $12 dollar ticket surcharge, etc. Will also help the City of Regina pay off the loan.)
To help with the added costs of running the stadium, Regina property taxes will be increased .45% every year over 10 years (4.5% in total), which will raise approximately $300 million dollars over the 30 years.
I'll be the first to say that for a province like Saskatchewan, this is a pretty ballsy proposal. The option they came up with is probably the one that will effect the provinces bottom line the least, which is really the only way you could do it here. But if you've ever been to Mosaic, you would agree that a new stadium should've been built a decade (or two) ago. The ol' building is 100 years old, and she has character... but it was time to do something.
It's also interesting to note that the stadium will also be "roof ready," which was a condition for the loan from the province.
With the boom that this province is currently going through, it's nice to see that we're doing something that a lot of people were saying we couldn't.
While the SRR are my LEAST favourite (I hate them) CFL team (full disclosure : Sadly, I am wearing a SRR ball caps as I type this post),
I love/respect how well they are supported by their fans.
Good on them for getting a new stadium.
I'm sure Regina/Sask natives would give me dirty looks and likely get pissed by this, but they're not ready for another leap like this in taxes and funneling that much money in a new stadium. The way I see it: take it slow or burn out.
Riders and ticket-buying public will be covering $125 million of the cost, nearly 50%.
Riders bring in the most money in the CFL each season. Approx. $30 - $35 million per year. Have about $30 million in the kitty from net profits the last 5- 10 years.
A team netting $3M/yr is in no position to pay for a $450M stadium.
If taxpayers want to foot the bill - what the hell, it's your province, go for it - but this makes no fiscal sense whatsoever.
Is that revenue or profits though?
And if they've managed to save $30 million in the past decade, that's still a mile away from their overall financial obligation for this proposed project. That means, best case scenario, we're talking about four decades to break even.
I bet they get more use than 10 dates a year.
The CFL is the highest level of sports Saskatchewan will likely ever see, so I can understand why they want to pump so much money into a brand new stadium.
Whatever, it's their money to spend as they please.
It does seem like a lot of money for a stadium built for a city of roughly 210k which will only host between 10-12 football games a year.
I'm sure they'll have other events as well, but enough to justify this expenditure?
Couldn't they've been less ambitious and build one for under 200 mill at least? I think Winnipeg's is under 200 mill.
True, but they'd also be splitting the pie with other entities for non-football events in all likelihood for the province and municipality paying their part.
With a few concerts and maybe a special event or two, okay let's bump it up to 15 dates a year.
That's revenue. Last year's profit was $ 3.8 million.
There's a lot of money to make up, but I think Rider fans will sustain the needed ticket surcharges and price increases over 30 years. There's been something of a culture change with that franchise.
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