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 […]
Tag Archives | financing
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
Edmonton: Cheaper to renovate than to build new downtown arena
The cost of renovating Rexall Place is lower than it was estimated to be three years ago, which is good news for Edmonton Oilers fans who don’t want to see the NHL team move to a new downtown arena. Updated cost estimates peg the renovation costs at $190 million, down from the 2007 estimate of […]
Oilers arena zoning hearing delayed
Issues over the potential funding for a new downtown Edmonton Oilers (NHL) arena is causing the Katz Group to postpone a key zoning hearing, in order to put together a formula that could appeal to politicians and taxpayers. In theory, the June 26 meeting was slated to an inocuous hearing on the zoning of a […]
