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Originally Posted by movingtohamilton
Bob Young would build stadium seating? Out of the coffers of the football team? I thought the City owned the stadium and his team is the major tenant.
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Thats the case yes. But Bob Young has already dumped $5 million of his own money into upgrading the team facilities in the stadium. In the end the money made off selling those additional seats would come back to Bob Young through increase game day revenue. He could probably work out a deal to spilt the cost 50/50 with the city as well.
If you recall Bob also spent millions of his own money to install the Dofasco Tigervision video board back in 2003 at Ivor Wynne even though the city owned the property. He joked that he would "have to get the city to approve the new multi million dollar scoreborad before its official" of course they had no hesitation signing off on it.
MLSE manages but does not own BMO field yet are pouring in more than $100 million in upgrades.
Closer to home im pretty sure Global Spectrum used their own money to insteall an LED power ring at Copps even though they just operate the arena on behalf of the city.
It's not unheard of to shell out money for a place you dont own. Especially if the increased revenue goes straight back to you.