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Hey Hey Hey Goodbye…

Katz Group puts pressure on potential Edmonton Northlands contractor

Downtown arena may be dead if Oilers owner Katz doesn’t step up

An election is approaching – an unpopular arena funding model seems to become more so by the day – A provincial budget came and went without $100 million in arena funding, leaving the Mayor’s “the money is coming, the money is coming” reality distortion field, bleeding on the side of the potholed road – And a couple more City Councillors have toyed with the idea of possibly, maybe, sort of, voting against the Arena framework as it heads back to Council without the Provincial funding we knew it wasn’t going to get.

Did I mention an election is coming?

Anyway, as it all heads to either a tear-filled finale or a ramming through from throat to rectum, I’d like to offer Council and Council hopefuls a solution, free of charge.

Cut Katz loose.

Aside from a 30+ year lease for the use of the facility for 41 days per year + the playoffs (if any), let’s do it without him. Let’s do it without the Katz drama, the Katz ego, the $20 million marketing deal and the forfeiture of facility revenues. Let’s do it without his meagre investment to be spread out over decades.

I don’t begrudge Daryl Katz for making fantastically one-sided business deals, I just wish my city could do the same. Here’s Edmonton’s chance – cut Daryl out. If we’re going to build it, if we’re going to own it, if the city is going to stretch its borrowing capacity by a half-billion dollars to do this; then let’s run our rink, fill its seats, and profit fully from it.

If we need partners going forward, who have the expertise and the ability to bring shows through the door; Then starting with a trip to LiveNation, City Council can send Simon Farbrother on the road with instructions to fill the barn, not give away the farm.

One comment

  1. Angry Taxpayer says:

    Jamie Post is to be congratulated for his clear, cogent analysis of the present arena financing “deal”.
    It is the polar opposite of the blog published recently by Brad whatzisname, on behalf of the EEDC, apparently. Brad’s post is full of outright lies, misrepresentations, and untruths. For examply, Brad’s claim that the new arena will inject $19 million into downtown hospitality businesses. For every dollar injected DOWNTOWN, there will ONE DOLLAR LESS injected into the area of Rexall Place. The pie is only so big and there will be NO net gain as far as ongoing spending by arena attendees. It will just weaken Northlands which is a NOT FOR PROFIT organization, operated by COMMUNITY volunteers. How totally unlike the Katz Group which is trying to fleece Edmonton tax payers out of their hard-earned tax money.

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