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Post by tp2005 on Jul 18, 2011 14:01:03 GMT -5
Lemme first start by saying I do not believe a team as historic, treasured, and profitable as the Edmotnon Oilers are in any true danger of leaving Northern Alberta. I never believed the Islanders were going to leave New york and I have less reason to believe this with Edmonton. However, with recent news of Alberta's (lame duck) Premier not giving into to any cash requests on a new arena for the Oilers, what are people thoughts here on the future of the franchise? www.tsn.ca/nhl/story/?id=371669Owner Daryl Katz has said the team is losing money in the 37-year-old Rexall Place and told city councillors the NHL team won't play in Rexall after its lease deal expires in 2014.Losing money? Really??? |
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Post by crow on Jul 18, 2011 14:05:35 GMT -5
I'm sure glad we have MC and DT because Katz sounds like a di**
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Post by jhendrix70 on Jul 18, 2011 15:20:23 GMT -5
From what i've heard from people within the Oilers Organization: Katz IS a big of a D-Bag. Rarely at games, and when he is: doesn't "consort" with the "help".
I remember when he was in the process of taking on the team: He was talking about spending to the Cap, and purchasing a New Arena out of his own pocket! Now, he wants very little of his money going into the arena, etc...
I DO believe the team is losing money because, they are very much in the same position the Jets were in with their old Arena agreement between W.E.C.
I figure; the Oilers more than likely only get appox: 30-40% from all ticket revenue, and almost no concession money.
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Post by selanne405 on Jul 18, 2011 16:53:21 GMT -5
Didnt Katz try like 3 times to buy the team before it finally worked? Woulda thought he actually cared.
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Post by jhendrix70 on Jul 18, 2011 16:58:35 GMT -5
I sent Darren a photo of Katz landing RIGHT on the Driving range in Comox B.C 2 summers ago. There is an airforce base he ( as everyone else does ) could land at less then 5km away however; he calls ahead; gets everyone to move off the Driving Range, and has his Helicopter land there. Pretty pompous and NOT well liked by anyone there...Member or Not a member.
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Post by JimmyMann on Jul 18, 2011 20:47:20 GMT -5
This report is from 2010 but it leads me to think Katz is lying about losing money. Under the terms of this agreement, Northlands continues the management and
operations of Rexall Place. The License Agreement grants EIGL the right to receive
all Oiler game revenues, including net Oiler food and beverage and
novelties/merchandise receipts. . EIGL is also entitled to all building advertising and
sponsorship revenues, and suite rental revenues, Further EIGL receives 50 percent
of Rexall Place parking lot revenue. Northlands is responsible for building operating
and capital costs, including the building event costs related to the playing of
professional hockey. Under the Agreement, Northlands receives from EIGL building
rent of $1 per annum plus a contribution towards operating costs of $73,180 per
month or $878,166 per annum for the period July 1, 2004 to June 30, 2014, this sum
is adjusted annually based on the Consumer Price Index. The License Agreement
includes an additional annual contribution of $270,272 for the use of the scoreboard
until September 30, 2021 to pay off the loan for the scoreboard. However, if the
Oilers cease to play at Rexall Place during the term of the loan, EIGL no longer has
to make the loan payments. Effective June 30, 2008, Rexall Sports Corporation
purchased the Edmonton Oilers from EIGL. The License Agreement remains valid
with Rexall Sports Corporation.www.northlands.com/userfiles/Zimbalist%20Report%20Rexall%20Place%20the%20Oilers%20and%20a%20New%20Arena%20Final%20September%202010.pdf |
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Post by razorsedge on Jul 18, 2011 21:05:43 GMT -5
From what i've heard from people within the Oilers Organization: Katz IS a big of a D-Bag. Rarely at games, and when he is: doesn't "consort" with the "help". I remember when he was in the process of taking on the team: He was talking about spending to the Cap, and purchasing a New Arena out of his own pocket! Now, he wants very little of his money going into the arena, etc... I DO believe the team is losing money because, they are very much in the same position the Jets were in with their old Arena agreement between W.E.C. I figure; the Oilers more than likely only get appox: 30-40% from all ticket revenue, and almost no concession money. Katz never once said he would build an arena from his own pocket. He's always said he would put $100 million towards the actual building, which will be 100% government owned. He wants Northlands out (W.E.C. equivalent) and own the management rights (Atlanta Spirit Group anyone?), plus build around the arena (Thomson owned Osmington's property's around the MTS Centre is the real reason they invested in bringing the NHL to Winnipeg) which is where he'll make his money back and then some. So Alex, I'm not sure how you went from "build an arena out of his own pocket" to "very little of his own money". $100 million toward an arena after spending $200 million in buying the team is a good chunk of his own money. Remember, if the Premier gives money to Edmonton to build an arena, well they have to give Calgary money to. The Alberta government is running a $3.2 billion deficit this year. Plus, 500 teacher positions are being eliminated in the province. So, that lame duck premier (Ed Stelmach btw) is doing the right thing. Between Katz ($125 million), the city ($100 million), and proposed ticket tax ($125 million), that comes to $350 million. I'm sure $350 million could still build a decent facility. Here's the link to the proposed arena and info: www.revitalizedowntown.ca/ |
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Post by leafster on Jul 19, 2011 16:54:02 GMT -5
What's with these proposals for $400-450 million dollar arena projects in Edmonton and Quebec City? Nowadays, you can build a very decent NHL standard arena with only $250-300 million dollars. Am I missing something here?
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Post by tp2005 on Jul 19, 2011 18:23:02 GMT -5
What's with these proposals for $400-450 million dollar arena projects in Edmonton and Quebec City? Nowadays, you can build a very decent NHL standard arena with only $250-300 million dollars. Am I missing something here? It's all politics and business. I don't know enough about it to really understand.  |
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johnd
Veteran Member
Thank you TNSE!
Posts: 228
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Post by johnd on Jul 22, 2011 13:22:02 GMT -5
Pork Barrell
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Post by mrconfusion87 on Jul 25, 2011 20:40:59 GMT -5
Gee I hope not! The Oilers MUST stay in Edmonton regardless of whether any of us here love 'em or hate 'em!
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