Quote:
Originally Posted by Jamie
Ok.. Step up and buy them... Should be around 500,000,000
That will go over well with the Artsy crowd
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You missed the point I think.
If they expect the city (which really means the taxpayers) to fund a new arena, this funding should be exchanged for equity in the Flames organization.
The combined organization (the team and building), upon completion of the arena, would be consolidated.
This, of course, handcuffs the organization to the city (because you can't just pick up and move an arena).
The city can also grant tax abatements on the lease of the land and further the stake into this consolidation.
That forces King to put his money where his mouth is.
You NEED a new arena, and want TAXPAYERS, to buy YOU one ....... cool, then we will execute a fair market valuation of the team, invest the capital to build an arena, grant an tax abatement for the property lease, and the valuation of that capital expenditure plus abatement value will be calculated into an equity position ( % of ownership ) where the city and TAXPAYERS can either share in the benefit, or suffer the same pain as the balance of the ownership group.
Easy solution.
But, of course, like any good crook knows, King isn't looking for a fair deal, he is looking for a deal to benefit himself.
I bet his jaw would hit the floor. lol.