There will be no other private investors stepping forward to invest in a stadium.
the winnipeg sandbox
Continue or scrap the Crestwin Bomber stadium project?
You're right, Winnipeg has been fighting off the hordes looking to invest in a Winnipeg stadium.EdWin wrote:I don't think it's so late to say that no one else can't step up to the plate and take over this project, if it indeed does fail in the end.
I'm not sure, but you may have taken my comment as some sort of sarcasm, which is was not. What I am saying is that if the MTS Centre had the ability to be built with a vast majority of private funds, then so can the new stadium. It's not an impossible task. The MTS Centre is proof that this can be accomplish, so I don't see any reason why someone else cannot step forward wanting to invest in the construction of a new stadium facility. I personally am not a fan of using taxpayers money to fund the majority of "professional" sports facilities, which is why I am against the stadium and arena proposals in Edmonton, Regina and QC due to their funding agreements as they currently stand.grumpy old man wrote:You're right, Winnipeg has been fighting off the hordes looking to invest in a Winnipeg stadium.EdWin wrote:I don't think it's so late to say that no one else can't step up to the plate and take over this project, if it indeed does fail in the end.
The only way Winnipeg (and Regina BTW) will get new stadiums is if the taxpayer funds them. Same with Hamilton. Ottawa. And who is paying for that half billion dollar roof in Vancouver?
Hey, even that beautiful Edmonton football facility was paid for by you and I and the rest of Canada. And how much will the taxpayer be on the hook for the new Edmonton hockey facility?
grumpy old man wrote:There will be no other private investors stepping forward to invest in a stadium.
Livio Ciaralli wrote:What I am saying is that if the MTS Centre had the ability to be built with a vast majority of private funds, then so can the new stadium. It's not an impossible task.
Edwin, you are mistaken, The MTS Center was paid for and continues to be paid for by Taxpayers.The 50 million dollar "private " loan is secured by a gauranteed VLT disbursement from the government. Those same machines were at one time collecting money elsewhere and went directly into government coffers rather than a Credit Unit loan repayment scheme. ( See asper and polo park taxes ).
There was a fine piece of investigative reporting on this awhile back. Will try and dig it up. From what was reported, less than 10 Million was "private money.
Livio Ciaralli wrote:grumpy old man wrote:There will be no other private investors stepping forward to invest in a stadium.
I'd like to see 45000 "private " investors put their money where their mouth is. Fractional Ownership it works, and it will get you a dome. At the very least, there is talk of a "share" feature beign offered, which is absolutely useless ala GreenBay for investors. Best to actually own a portion of the team and complex outright.
So I wanted to verify your claim with others who might be in the know more than myself, and here are some responses I recieved from Jetsowners.com, including one guy who apparently work at the MTS Centre:Livio Ciaralli wrote:
Edwin, you are mistaken, The MTS Center was paid for and continues to be paid for by Taxpayers.The 50 million dollar "private " loan is secured by a gauranteed VLT disbursement from the government. Those same machines were at one time collecting money elsewhere and went directly into government coffers rather than a Credit Unit loan repayment scheme. ( See asper and polo park taxes ).
There was a fine piece of investigative reporting on this awhile back. Will try and dig it up. From what was reported, less than 10 Million was "private money.
Livio, I will split hares because if it indeed was a loan, it was paid back in full, likely with interest. That means that TNSE gave MORE of their own money back to the government including interest, and therefore the money did indeed come out of their own pockets in the end. Just like my student loans; the government gave me money in the beginning, but I have to pay it back with interest, so therefore I am paying more back to the government than I orgionally borrow, and hence they made a profit off of me, just like they made a profit off of TNSE.Livio Ci wrote:Edwin, put it this way, without the loan from the Credit union ( which members didn't really like ), the deal was dead.
VLT's were a major portion of the deal. Thats what pays the loan.
Whether you want to split hairs as to what and who pays ....if its government money, its my money, the taxpayer.
But i will find the report where all the details were outlined.
Then prove it. I would like to see this alleged evidence you claim.Otherwise you are just blowing smoke.Livio Ci wrote:No buddy, they NEEDED an EXTRA 50 MILLION dollar loan on top of what the government gave them.
That was the Credit Union loan which is being paid off with VLT money.
I'll try my best to find that report. I had a hard time a few months ago researching the Credit Union issue. Seem slike its all cached, but it was in all the papers since the Credit Union members ( deposit holders ) were close to launching a court injunction against the Credit Union. Perhaps the Provincial government coming in witht he VLT revenue appeased them and secured their capital.
But make no mistake, this money , is all public money. The VLT's will pay the outstanding Credit union loan.
the winnipeg sandbox » winnipeg sports... » other sports discussion... » POLL: Continue or scrap the Crestwin Bomber stadium project?
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