All we need is $100M to build an arena. Is that really too much to ask?
Well, now that you mention it…
Both Oilers owner Darryl Katz and the city of Edmonton have agreed in principle to build a new arena. And that’s really great news, except they’re just a few toonies short of an extra $100M jingling around their trousers.
Through Katz and the city of Edmonton, figures of $225M have been thrown around, plus an extra $125M in user paid facility fees. That’s about $350 million dollars, which is a nice start if you’re trying to purchase yourself a small island off the Caribbean.
If you carry the one, and divide by zero, now take the Pythagorean therom and add nine, you come up to about $100M left over that will be paid by…someone who wins Lotto 6/49. Four times.
WHERE DOES THE REST OF THE MONEY COME FROM?
That’s a great question. The answer is…well, not the taxpayers. That is, if you ask host of Alberta politicians.
This is going to be for profit, so I don’t support one dime of public money going into it.
-Leadership Candidate Doug Griffiths
We haven’t got $100 million laying around for a billionaire and his hockey team.
Probably a true statement by Alberta NDP leader Brian Mason
So where does this leave us?
Probably somewhere in the middle. There might not be $100M lying around for a professional hockey team, but is there $50M? How about $65M? A new arena would promise at least 35 more years of Oilers hockey, a tantalizing reward for a new arena. Maybe Darryl Katz has to throw a few more ducats into the project. It’s unclear at this time.
While there’s no guarantee on the table as of yet, I’m at least glad to see some numbers being bandied about. With all of the talk about True North finally maybe sort of purchasing the Atlanta Thrashers to move them to Winnipeg for an ungodly amount of money, I’m certain that we can put our collective heads together to formulate a plan to secure the last 25% of the Edmonton Arena pie.
The plan needs to come to a head soon, as there are but three years remaining on the Oilers current lease.