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New information about the arena deal emerges (calgaryherald.com)

submitted 2 years ago by Zamboniman to c/calgary_flames

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An article in the Herald about some details of the new arena deal.

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[–] GrindingGears 2 points 2 years ago* (last edited 2 years ago)

We could have taken the naming rights to a building we own. That alone would have paid for the building over 30 years, hell even overuns. Toronto got $800M for 20 years, and that was like four or five years ago, naming rights are worth more now.. Calgary ain't Toronto, but the rights will likely sell for $300-500M, on shorter term. Let CSEC have everything else, everyone wins. But no, amateur hour down at CCC. Looks good on em, CSEC did a helluva job here, they got some smart folks. They get pretty much a free building, no taxes due, no ticket tax, first rights on prime development lands, and they protect all their revenue streams. It's so one sided it almost begs one to wonder what is actually in it for the city.