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December 23, 2011
What if they built an arena and everybody came?
And finally, this week in Newark arena news:
- Venues Today has ranked the Prudential Center 10th in the world among top-grossing arenas for concert ticket sales — meaning not counting New Jersey Devils and Nets games.
- The arena operators (i.e., the Devils owners) still aren't paying any rent to the city of Newark, which put up nearly $400 million for construction, because they say according to their lease, the city should be paying them.
Clearly, only Mary Worth can solve this problem. Happy holidays!
Are the two parties splitting all the other revenues from the building as well, or is that a sad and naive question?
Posted by Andrew T on December 23, 2011 04:02 PM
Merry Christmas Neil ! Have you heard about this plan to build a 6000 seat baseball park in Montreal to attract a potential minor league team down the road? I asked you about this in your online question forum once. Peace
Posted by David B on December 23, 2011 08:34 PM
From what I can tell with my high-school French, they need to convince the province of Quebec to cough up $50 million to build the thing, then find a team to play in it. Not much to comment on until there's some sign of those things happening.
Posted by Neil deMause on December 23, 2011 11:22 PM
another example of sports franchise owners shaking down taxpayers and then stiffing them for what's owed.
the reported "benefits" of these deals will never match or exceed
what the franchise owners take in. owners, athletes, their agents and players associations will eventually have to be forced to do more with less, the economy can't sustain the growth in the sports biz that has been experienced during the last 25 years.
these businesses aren't "too big to fail", if they need to be subsidized by taxpayer bailouts they should fail.
y'all may not like this but we're heading for a brick wall at 99mph.
Thanks Neil. I like the idea.Montreal would support minor league ball especially in a new stadium in a good part of town.I heard some investors would put up half of the 50 mill but i guess we'll see.
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Here in Indianapolis the media is reporting that even though the NBA has settled their contract the city may need to pick up the maintenance fees for the building in which the Pacers play. The said same building that the taxpayers built for 183 million dollars and that the Pacers pay the exorbitant rent of $1 per year. All of this is a prelude for the Pacers to receive another subsidy of taxpayer dollars to cover the maintenance costs of Conseco. The Pacers received 33.5 million in taxpayer dollars to cover mainteance fees the last few years and now want that subsidy to be permanent. Apparently there is no end to the greed of billionaire owners and unfortunately there isn't any reticence here in Indianapolis to cease filling their pockets with lucre.
Posted by IndyRes on December 26, 2011 09:05 AM