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Katz plans to push for new arena for Oilers

Canadian Press

Latest comment posted at 6:46 PM EST 08/02/08

New Edmonton owner says he'll craft a written commitment to keep the franchise in the Alberta capital ...Read the full article

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  1. David Gehring from Ottawa, Canada writes: This is good news for the Oilers on the business side of the franchise, assuming Katz sticks to his promises. Now I just hope that Katz is not the type of owner to interfere with the hockey side of the franchise. Let managers manage and coaches coach (although a house-cleaning may be in order).
  2. Luco daman from Canada writes: and the oilers are now garanteed to be better than the leafs !!!

    for a long time to come,
  3. Terry F from Edmonton, Canada writes: Well done, Investor's Group. Thanks for taking the bull by the horns and saving the team in the first place. It's a welcome change but it's going to take some getting used to. This is pretty much the first time the Oilers won't have to worry about cash. Not used to that. I agree with David G about the need for some housecleaning. The old boy's club is getting a little stale.
  4. steve allan from Canada writes: If he wants a new arena, let him pay for it down to the last cent!
  5. Steve Not an Alberta Redneck from Calgary, Canada writes: These "requests" are always amusing. Do they want a stadium with enough seats so that the average fan can go at an affordable price.

    Hardly.

    If anything, they want a facility with less seating, to jack up the price of tickets, and lots of features to satisfy their corporate clientel. Elevators to every luxury box, anyone? And all this to be paid by the average taxpayer.

    There is ample evidence that there is an inverse relationship between the willingness of local politicians to agree to this blackmail and the livability of a community.
  6. Marty York from Calgary, Canada writes: What does a new arena cost nowadays? It is going to take more than 100 million from him.
  7. Robert von from Calgary, writes: So he will pay $100 for a rink which probably will cost $500 million to build. I cannot wait to see the plebiscite to the people of Edmonton requesting a raise in their taxes to pay for the majority of the rink. Oh and of course even though the city will put in the most money they will still name it after some corporation who gave a tiny amount to the building of the new rink. If it is a private team the rink should be built entirely with private money.
  8. Matthew Townsend from Brooklyn, United States writes: Nice to see a few more folks posting anti-taxpayer funding for a new arena. I've said this once and I'll say it again:

    Why should the taxpayers of Edmonton and Alberta be spending their tax dollars on the building of an arena out of which Katz will be the one taking the profits (if there are any)?

    Do some research people. If Katz can afford to buy the team he can afford to get private financing to build a new arena.

    Look Katz is a businessman. If he felt that the arena would be a profit centre then he would build it himself. Since he doesn't view it that way he wants the public to pick up the costs for him.

    There's lots of economic literature out there people. Those in favor of having the taxpayer pay for the new arena should really do their research regarding the "alleged" benefits.

    A good place to start would be to check out what the Sonics' said regarding their economic impact on Seattle - they don't make any impact.
  9. Carl Baldin from Canada writes: If Mr. Katz "kantz" afford to build the new rink ENTIRELY at his expense, I sure hope that taxpayers $$$$ don't go into this. I don't buy any of the arguements about how it benefits the economy. If the government does chip in, then they should also help subsidize every business that brings in revenue and helps the Edmonton economy.
  10. Joel Allen from Edmonton, Canada writes: Katz has committed to spend 100mil of his own money to finance a new arena. Why does everyone think the balance has to come from
    taxpayers? Has anyone heard of banks? They lend money. Virtually nobody buys a house without borrowing money from a bank. Becides, the city will get lots of benefit from a downtown arena, so why should they contribute towards the project? It doesn't have to be cash.
  11. ghostofpatbuchanen buchanen from Victoria, Canada writes: Joel Allen from Edmonton, Canada writes: the city will get lots of benefit from a downtown arena, so why should they contribute towards the project?
    Sorry, Joel, there is no independent evidence supporting your claim. None.
    If a single dime of taxpayer money is spent on this arena - whether it comes from the city, the province or Ottawa - it is corporate welfare. Plain and simple. Taxpayers would be outraged if they were asked to pay to build Katz a string of drug stores. Why would we agree to pay for a playpen for millionaires?
  12. Joel Allen from Edmonton, Canada writes: Firstly, I never said that taxpayers have to contribute cash. There are lots of ways that governments help businesses get off the ground, and very few of them entail cash payments. Secondly, taxpayers always help to pay for businesses. It's called a "business expense", and is tax deductible. Or sometimes it's called a grant. Or sometimes it's called a subsidy. You can call it corporate wellfare if you like, but it is something all levels of government do to stimulate the economy.
  13. Cliff Coyote from Canada writes: Pat Laforge- get your resume dusted off and updated - you need to go!
  14. Wilf Kruggel from Canada writes: Wouldn't you know it, already the politics are at it. already and nothing is official yet. Sounds similar to when Husky wanted to build a tower in Edmonton, That is, until the local whinners got involved, similar to alot of the above posts. We all know what happened there. All I can say is that we, in Edmonton can thank our lucky stars that indeed, we had people like Cal Nichols and the Investors Group, with foresight and passion to keep the team here. Edmonton is a very good sports city so just leave it alone, please. Daryl Katz seems to be a genuine individual and I think that he is going to do nothing but good for this city. Simply folks, "cool it" as you are all jumping to conclussions and besides, your whinning could raise your blood pressure. OK! Wilf
  15. Janis Miller from Canada writes: Awesome. Great for hockey. And why wouldn't tax payers want to help finance a new building? It's just good business in a Canadian market in this day and age.
  16. Dick Lenning from Edmonton, Canada writes: The city's support should, and will, come in the form of renovating surrounding infrastructure (i.e. rebuilding streets, sewer and power lines) and building new supporting infrastructure like LRT stations and connecting tunnels. I would even support the city and province loaning some money but only on condition the team stays in Edmonton AND for reasonable terms (i.e. mortgage, NOT 99 years at 0% interest!)
  17. Matthew Townsend from Brooklyn, United States writes: @ Janis (and others)..."why wouldn't tax payers want to help finance a new building?"

    Simple, as ghostofpatbuchanan already stated - "there is no independent evidence supporting your claim" that public subsides of arenas, stadiums provide the taxpayers with an economic benefit.
  18. max from edmonton from Canada writes: Cliff Coyote from Canada writes: Pat Laforge- get your resume dusted off and updated - you need to go!
    **************************************************
    You are on crack.

    Pre Pat Laforge: Cant sell 10,000 seats to a game, and city forgets Oilers.

    With Pat Laforge: 101 straight sell outs and counting and the Oilers are the talk of the town. Laforge's Job is not to select Hockey Talent. Laforge is there to run a business and has done a fine job of doing it.

    Pat Laforge has been absolutely excellent for this team.
  19. Steve Howe from North of Wawa, writes: What all the naysayers fail to understand is that multi-stakeholder support for a new arena is not simply about economics. It is about local culture and image, especially in a city like Edmonton. Cities all over the world have shown what works and what doesn’t work when it comes to stadiums and arenas. It is up to local stakeholders to find a solution that works for Edmonton and northern Alberta.
  20. Gary Dare from Portland, Oregon, Canada, writes: Actually, a pair of pro-free market libertarian economists, Coates and Humphreys, have authored a benchmark study and testified at many public hearings in the US, on the lack of economic benefits from new sports facilities once the cost of public subsidies are subtracted. In other words, it is pro sport socialist corporate welfare because the projects weren't designed to function in a free market to begin with!

    http://www.news.uiuc.edu/news/04/1117stadiums.html
  21. Michael Mule from United States writes: So what are you all saying ? That if it's Canada, it's ok for taxpayers to pay for an arena but taxpayer money shouldn't be used to help pay for the existing arena in Nashville and keep the predators there. I hope the Oilers wind up in Hamilton when the arena deal is not approved and Mr. Rexall decides to move the team. Better yet, the KC Oilers sound about right. It would serve you right.
  22. Michael Mule from United States writes: PS I can't wait til the written committment is crafted to keep the team in Edmonton to see how many escape clauses are put in.
  23. max from edmonton from Canada writes: Michael Mule from United States writes: So what are you all saying ? That if it's Canada, it's ok for taxpayers to pay for an arena but taxpayer money shouldn't be used to help pay for the existing arena in Nashville and keep the predators there. I hope the Oilers wind up in Hamilton when the arena deal is not approved and Mr. Rexall decides to move the team. Better yet, the KC Oilers sound about right. It would serve you right. ************************************************ Who cares what you hope? Why do we need to listen to you rant about how Canadians spend our tax money? I have an idea, write a letter to your president about how he can fix your melted economy before you give any more free advice to the rest of the world. I really dont know where everyone is getting their information from. When has Katz suggested he will ask for public money? Even if he does.... maybe in 20 years the citizens of Edmonton would be happy with a new events facility instead of a run down old retread like rexall will be. Lat year Rexall place was ranked number 12 in the WORLD for staging events like Hockey games, Concerts, rodeos, trade shows etc. 12th on the planet isnt bad for Edmonton. We built a 90 million dollar Art Gallery with public money, and that serves only a fraction of the population. I am not opposed to leaving a legacy that allows Edmonton to continue to shine on the world stage.
  24. Gary Dare from Portland, Oregon, Canada, writes: Michael Mule writes, "So what are you all saying ?" Hello again, Michael ... from the handles, I hope that you can tell that aside from you and me, this is a different crowd on this thread than the ones from the Predators threads a few months ago, and they probably have no idea what you're talking about. Looking back, there is only one person who is suggesting public assistance versus a dozen others against. (As for me, I would not like to see this trend start in Canada, as it has busted local and state budgets in the US.)

    That said, the Oilers have been recording great attendance that if it were the same in Nashville, cast no questions about the team's future in town.
  25. Michael Mule from Nashville, United States writes: Hey I love Edmonton, It's a great City. I was just giving back a little from the whole Nashville debacle and all the US small market haters. Actually, before the local owners took over, the Oilers were in almost as bad shape as the Preds, but they pulled out of it. Hey Gary. It's interesting to see how Canadians will react to who should pay for the new arena as I know Canadian teams don't get any assistance from the Government. Or am I wrong on this. How does it work in Canada with sports teams ?

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