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Tag Archives: financing

Next up in Sacramento arena quest: term sheet

Though there is broad agreement over funding of a new Sacramento Kings (NBA) arena, the tires will hit the road when a formal term sheet — with specific figures — is released. That release is scheduled for tomorrow. It should be interesting: the biggest chunk of arena financing, the sale of future downtown-parking revenues, is still a long ways from ... Read More »

Sacramento, Kings reach tentative arena deal

Sacramento officials and the owners of the Sacramento Kings (NBA) have reached a tentative deal on financing for a new arena in the city’s downtown area. The deal, still subject to final approval once the city’s part of the funding package is determined, calls for larger-than-planned contributions by the Maloofs, owners of the Kings, and arena-management firm AEG. For a ... Read More »

How realistic is Sacramento arena plan?

As more details emerge about a proposed Sacramento arena plan, it appear the city may ask more of the NBA’s Kings and take some facility revenue streams. Is this realistic? Though the financial cornerstone of the $387-million (or $400 million, depending on who you ask) funding plan is the sale of future downtown parking revenues for $200 million, the rest ... Read More »

Tensions escalate over new Edmonton arena

A deal between Edmonton Oilers (NHL) owner Daryl Katz and the city for a new arena has a proposed clause causing some nasty feeling: they want Northlands, nonprofit operator of Rexall Place, to sign a noncompete. Such a deal is defensible from a business viewpoint if you are Katz: Arena Economics 101 says two facilities cannot thrive in most markets ... Read More »

Quebecor commits real money to new Quebec City arena

{jathumbnail off} Canadian media giant Quebecor is making public its financial commitment to a new Quebec City arena, and it’s pretty substantial: between $110 million and $200 million, depending on whether the facility lands an NHL team. The funding commitment is in two areas and on two levels. First, there’s a baseline commitment of $33 million for arena naming rights; ... Read More »

City, province to split cost of new Quebec City arena

It’s a much simpler deal than many anticipated, as Quebec City Mayor Régis Labeaume and Quebec Premier Jean Charest today announced the city and the province would split the cost of a new NHL-level 18,000-seat arena, with the hard cost of the project capped at $400 million. The announce came after months of speculation about how a new arena would ... Read More »

Seat mortgages pitched for new Edmonton arena

It sounds like the proposal is already a nonstarter, but that’s not stopping the idea of seat mortgages from being pitched to the Edmonton City Council by Lou Weisbach and a local player agent as a way to totally fund a new Edmonton Oilers (NHL) arena. The idea certainly is not a new one: Weisbach has been pushing the idea ... Read More »

Katz ups arena offer to $200M; city willing to talk

Edmonton Oilers owner Daryl Katz has doubled his offer to help finance a new downtown arena, but before the city is ready to act councillors have lots and lot of questions. Still, Katz is closer than ever before to achieving his dream of a downtown arena. Katz’s offer came during a City Council meeting last week and was a stunner, ... Read More »

Edmonton: New downtown arena financially feasible

Combine a $5 ticket surcharge with a $100-million contribution from Edmonton owner Daryl Katz, and you’ve reached the point where a new downtown Oilers arena is economically viable, say city officials — raising the stakes on new-arena discussions in the city. “A new downtown arena with an increase in the number of seats and other amenities can increase the revenue ... Read More »

Katz: I will spend $100 million on new downtown arena

Daryl Katz has shifted positions once again on his potential contribution to a new downtown arena for the Edmonton Oilers, saying he would contribute $100 million directly to arena construction costs, not to fund an adjoining entertainment district. Katz has shifted his position on the ultimate destination of his financial contribution twice already. When he first proposed a new downtown ... Read More »

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