Sacramento will negotiate a potential lease of parking spaces with 11 suitors — with the proceeds being a cornerstone of a funding plan for a new Sacramento Kings (NBA) arena. The city is under the gun to show the NBA and the Kings a viable arena-financing plan before a March 1 deadline. A key part […]
Tag Archives | funding
Kings’ arena quest coming down to the wire
An attempt to keep the Sacramento Kings (NBA) in town is coming down to the wire, as a $400-million financing plan is due at the end of the month. Mayor Kevin Johnson has been leading the push for a funding plan, which is still not finalized. A key part of the plan calls for the […]
Could casino money fund Edmonton arena?
{jathumbnail off} There’s a $100-million funding gap in the current Edmonton Oilers (NHL) arena plan, and city officials say there’s a painless way to fill it: divert gambling revenues to the project. Earlier this week the Edmonton City Council passed a funding program for a $450-million downtown arena calling for $100 million from the team, […]
Edmonton approves Oilers arena deal
By a surprisingly wide 10-3 margin, the Edmonton City Council voted to move forward on a plan for a new $450-million Edmonton Oilers (NHL) arena, directing city staff to work out an agreement with the team. The funding plan was slightly tweaked before it was approved this afternoon. The base agreement remained the same. The […]
Edmonton poised to approve Oilers arena deal
The Edmonton City Council could pass a proposed Edmonton Oilers (NHL) downtown arena deal this morning after hearing final testimony on the issue yesterday. The testimony split along familiar lines: local businesses saying investment in the downtown core would be beneficial to all, with some citizens opposed to any public spending on a sporting facility. […]
Sacramento arena funding plan still elusive
A solid funding plan for a new Sacramento Kings (NBA) arena continues to confound local political and business leaders, who are still working to come up with the money for a $387-million downtown facility. There’s a general outline in place: the Kings owners and users (in the form of ticket surcharges) will pay a thid […]
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 […]
Sacramento officials push arena idea — but no funding plan
Sacramento officials are pushing the many benefits of a new arena to regional residents — but without a funding plan, an incomplete story is being sold. It’s not necessarily hard to tell regional residents they’ll benefit from a new downtown Sacramento arena: it will allow the Sacramento Kings (NBA) to stay in town, better events […]
Alberta: We’re open to some sort of Edmonton arena funding
Alberta provincial officials were surprisingly open to some sort of involvement in funding for a new Edmonton Oilers (NHL) arena — but it’s most likely the money would go to infrastructure and not directly toward the facility. When Mayor Stephen Mandel announced a funding plan for the new Oilers arena, the initial pushback from some […]
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 […]
New Quebec City arena a go?
{jathumbnail off} Various media outlets, including Radio Canada, are reporting that a new Quebec City arena is a go, as Quebec City Mayor Régis Labeaume is expected to hold a press conference tomorrow to announce the final piece of the funding pie: federal gas-tax proceeds. The current plan from Prime Minister Stephen Harper calls for […]
