Quote:
Originally Posted by esquire
That's actually not far off from the funding formula for IGF. As with the Riders, the vast majority of the Bombers share is in the form of a provincial loan that will be repaid by the Bombers.
Personally I'm fine with a loan, so long as it gets repaid.
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I'm fine with the loan too, although part of me wonders what those dollars meant to this years hack everything budget with the Saskatchewan Government. $20 million each year over 4 years could have pretty much saved all the library funding and STC for that time period. The 100,000,000 is accruing interest as well and will take (according to the original numbers) 31 years to pay off. Any bets the Riders come looking for funding to do some upgrades within that time frame?
People that look at the Riders strong attendance forget that just ten years ago we were averaging 25,000 a game. What numbers did they use to figure out the loan repayment schedule. 33,000 or 25,000 my rough calculations say that a drop in attendance of that much adds a good decade to the amortization period. So now 40 years. What do the economics of that look like?
Regina is probably two lousy years away from a dip in attendance especially if the economy doesn't rebound. Who pays for box seats when the government is doing so poorly? Hopefully the Riders become competitive again within two years and the economy picks up again and the budgets get better.
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