Investors Group Field | Winnipeg - Page 92

viperred88 · #**1821** Posted **Dec 14, 2010, 5:02 AM**

well sounds like our city is pulling a Glendale by throwing good money after bad.

The Blue bombers should be privately owned even if it is 10 owners owning them.

it will take forever to pay off that stadium that will be rarely used only 9x year and a couple concerts that will bring the revenue.

Jets4Life · #**1822** Posted **Dec 14, 2010, 5:50 AM**

Quote:

Originally Posted by viperred88

well sounds like our city is pulling a Glendale by throwing good money after bad.

You took the words right out of my mouth!

JayM · #**1823** Posted **Dec 15, 2010, 9:35 PM**

City passed with only Wyatt and Smith opposed.

Tower Crane · #**1824** Posted **Dec 15, 2010, 10:36 PM**

OK, before everyone get's carried away with press conferences can someone answer one of the most important questions on making this thing work:

Question - How in the world can the Bombers repay this loan. They need to make a operating profit to keep operating, how are they going to service this $70 or $80 million dollar debt? That would be a couple million dollars a year over half a lifetime going to service this debt, how can that be acheived?

JayM · #**1825** Posted **Dec 15, 2010, 10:44 PM**

Yeah that's a large amount of money to be repaid back. CFL Teams don't really generate that much in profit even with Sponsors and Naming rights. The Bombers stated the entertainment fee wouldn't go up much higher then the current rate at the new stadium.

Migs · #**1826** Posted **Dec 15, 2010, 10:47 PM**

Quote:

Originally Posted by JayM

City passed with only Wyatt and Smith opposed.

Great news for the province of Manitoba!

drew · #**1827** Posted **Dec 15, 2010, 11:01 PM**

Quote:

Originally Posted by Tower Crane

OK, before everyone get's carried away with press conferences can someone answer one of the most important questions on making this thing work:

Question - How in the world can the Bombers repay this loan. They need to make a operating profit to keep operating, how are they going to service this $70 or $80 million dollar debt? That would be a couple million dollars a year over half a lifetime going to service this debt, how can that be acheived?

It won't be achieved. It's just a better way (politically speaking) to say "government funding".

The Bombers will never pay it back, and the government will probably never ask for it back.

Stormer · #**1828** Posted **Dec 15, 2010, 11:12 PM**

Quote:

Originally Posted by Tower Crane

OK, before everyone get's carried away with press conferences can someone answer one of the most important questions on making this thing work:

Question - How in the world can the Bombers repay this loan. They need to make a operating profit to keep operating, how are they going to service this $70 or $80 million dollar debt? That would be a couple million dollars a year over half a lifetime going to service this debt, how can that be acheived?

Plus I assume there is still interest at 4.5%. That's another $4 million per year. It sounds like $15-20/seat facility fee for 44 years if they actually had to pay it back.

1ajs · #**1829** Posted **Dec 15, 2010, 11:53 PM**

aslong as the team stays publicaly owned lets just go with it

Riverman · #**1830** Posted **Dec 16, 2010, 2:07 AM**

Quote:

Originally Posted by 1ajs

hahaha glendale just got riped off hahahahahaha

Quote:

Originally Posted by 1ajs

aslong as the team stays publicaly owned lets just go with it

So when we get ripped off it's just fine? Utterly typical NDPer. Who is feeding you this crap anyway?

We need this stadium like a hole in the head. Our province is broke and has been running deficits for years, WE will have repay ALL of the principal and ALL of the interest. With less money, say $50 million imagine what we we could do with the old stadium! The Bombers could maybe even pay for it, plus the infrastructure is all in place.

I understand also, the old stadium site in the airport industrial zone and can't be used for housing.

jmt18325 · #**1831** Posted **Dec 16, 2010, 2:42 AM**

Quote:

Originally Posted by Riverman

We need this stadium like a hole in the head. Our province is broke and has been running deficits for years,

No we're not, and no we haven't.

Riverman · #**1832** Posted **Dec 16, 2010, 3:07 AM**

Yes we have - robbing Hydro and preventing them from paying down their debt is indeed running a deficit. Spin it how you want, it's a fact and it's well known.

trueviking · #**1833** Posted **Dec 16, 2010, 3:35 AM**

that is literally the ugliest stadium i have ever seen in my life....the wiggly roof drives me up the wall.

rrskylar · #**1834** Posted **Dec 16, 2010, 3:44 AM**

The city actually did pretty well on getting the new stadium, contributing less than 10% on a $190 million stadium is a good deal for the city, most of the city council new this to with the vote for being 14-2.

jmt18325 · #**1835** Posted **Dec 16, 2010, 4:16 AM**

Quote:

Originally Posted by Riverman

Yes we have - robbing Hydro and preventing them from paying down their debt is indeed running a deficit. Spin it how you want, it's a fact and it's well known.

It's not robbing Hydro, since the people own it. Hydro, under the current model, has been found to be completely fiscally sound. We haven't been running deficits, no matter how you want to spin it. Our credit rating has gone nowhere but up, no matter how you want to spin it.

isaidso · #**1836** Posted **Dec 16, 2010, 5:28 AM**

Wake me up when the shovel goes in the ground. Good grief!

1ajs · #**1837** Posted **Dec 16, 2010, 5:32 AM**

no different then the owner of a business taking the profits for himself

anyhow the city owns the blue bombers no? aspers plan called for him owning it origonaly ripping us off of our team and valuble land.. and lots of money now we still own the team as tax payers and put money into a needed facility..

Bdog · #**1838** Posted **Dec 16, 2010, 5:49 AM**

Quote:

Originally Posted by isaidso

Wake me up when the shovel goes in the ground. Good grief!

Shovel's been in the ground since May...

Nathan · #**1839** Posted **Dec 16, 2010, 7:05 AM**

Quote:

Originally Posted by 1ajs

no different then the owner of a business taking the profits for himself

anyhow the city owns the blue bombers no? aspers plan called for him owning it origonaly ripping us off of our team and valuble land.. and lots of money now we still own the team as tax payers and put money into a needed facility..

Not that I'm aware of... Winnipeg, like Saskatchewan and Edmonton is owned by the fans of their respective team. The provinces/cities have nothing to do with the ownership of each team.

And yes... I'm glad that Asper arrangement didn't work out for you guys... it was a pretty raw deal.

h0twired · #**1840** Posted **Dec 16, 2010, 1:56 PM**

Quote:

Originally Posted by Tower Crane

Question - How in the world can the Bombers repay this loan. They need to make a operating profit to keep operating, how are they going to service this $70 or $80 million dollar debt? That would be a couple million dollars a year over half a lifetime going to service this debt, how can that be acheived?

- Luxury Suites (new income considering the current stadium has no suites)
- Naming Rights (most likely more lucrative given the new shiny stadium)
- Sponsorship (more lucrative just based on the exposure of the new facility)
- Concessions Revenue (apparently they are going to go with the "food court" design like the ballpark)
- Entertainment Fees (a couple extra bucks goes a long way)
- Beer (sell it for 50 cents a cup more, remove the beer snake rule and rake in billions

)