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Post by WHA on Apr 7, 2011 23:57:29 GMT -5
And the NHL has quite warmed up to the idea of returning to Quebec, where the sport is popular and a $400 million arena is in the offing. The province is contributing $200 million and the city $187 million, with the rest coming from the promotion group J’ai Ma Place.
Naming rights have been sold to Vidéotron, with the media group paying $63.5 million over 25 years if an NHL team comes, $33 million if one doesn’t. Vidéotron will also pay the city $3.5 million annually to manage the building.
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Post by The Winning Pegs on Apr 8, 2011 0:11:29 GMT -5
did i miss something?
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Post by roccerfeller on Apr 8, 2011 0:25:58 GMT -5
His point I think is that videotron (of quebecor) is playing thé city 3.5 million to manage thé building
Whereas in Glendale, THEY are paying hulsizer 17.5 million/yr to manage thé building.
If That isnt fishy enough, consider that the Quebec arena will cost $400 million to build. I think jobing was $180?
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Post by swervinmervin123 on Apr 8, 2011 0:46:40 GMT -5
It's possible that there are semantic differences between the deal in QC and the deal in Glendale. What does the word 'manage' mean in each case?
BUT, no matter how you define "management" or "management fee", there is no way that the services of MH or his company are worth $17.5 million a year for managing the Jobing.com arena. There aren't that many hard costs other than management salaries for managing an arena. $17.5 would pay for 85 employees at $100,000/year, and still leave another $8.5 million for profit and overheads on the management contract fees!!!
The $3.5 million figure makes some sense, economically, for managing an arena.
!!!!!!!!!!!
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Post by Conan on Apr 8, 2011 0:48:35 GMT -5
Goldwater has actually already pointed this out.
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Post by shanehoopfer on Apr 8, 2011 0:49:50 GMT -5
The big management fee is just to essentially make sure that in the end MH is putting up none of his own money long term to ensure the team doesn't move.
$100M in bonds plus $85M in 'management fees will cover the cost of the Coyotes.
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Post by The Winning Pegs on Apr 8, 2011 0:59:27 GMT -5
okay got it, didnt know what the title was refering to compared to the article  |
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Post by enarwpg on Apr 8, 2011 8:23:39 GMT -5
His point I think is that videotron (of quebecor) is playing [sic] thé city 3.5 million to manage thé building Whereas in Glendale, THEY are paying hulsizer 17.5 million/yr to manage thé building. If That isnt fishy enough, consider that the Quebec arena will cost $400 million to build. I think jobing was $180? ....Glendale's answer would be that the net difference of $21 million can be attributed to the exchange rate AND the fans would believe that !  |
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Post by jetsorbust on Apr 8, 2011 8:43:27 GMT -5
His point I think is that videotron (of quebecor) is playing [sic] thé city 3.5 million to manage thé building Whereas in Glendale, THEY are paying hulsizer 17.5 million/yr to manage thé building. If That isnt fishy enough, consider that the Quebec arena will cost $400 million to build. I think jobing was $180? ....Glendale's answer would be that the net difference of $21 million can be attributed to the exchange rate AND the fans would believe that ! All kidding aside, it is actually justifiable. Quebec has fans, fans willing to spend money at the arena. Phoenix does not, so they need to pay large subsidies in order to have anyone interested in owning the team. Why doesn't mayor Scruggs just say this? |
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Post by enarwpg on Apr 8, 2011 8:53:36 GMT -5
....Glendale's answer would be that the net difference of $21 million can be attributed to the exchange rate AND the fans would believe that ! All kidding aside, it is actually justifiable. Quebec has fans, fans willing to spend money at the arena. Phoenix does not, so they need to pay large subsidies in order to have anyone interested in owning the team. Why doesn't mayor Scruggs just say this? ....it could also be viewed as Glendale is paying Hulsizer to keep ticket prices low to ensure fan support.... |
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Post by matrix on Apr 8, 2011 9:16:05 GMT -5
just for your information,
It will be 5millions annually with an NHL team
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