[Newsbot]

Title: MLSE wants $10 million from Toronto for BMO Field makeover
Category: Business
Posted By: BeaverFever
Date: 2014-03-15 20:21:04
Canadian

[BeaverFever]

Geee, if only MLSE had its own money, like from owning the richest and most expensive NHL team in the league or something....I don't know whey sports teams seem to think they should have special entitlements to taxpayer handouts when they make money hand over fist.

That said, I think the city should INVEST the $10M on the condition of some sort of direct return, such as a cut of the venue's profits.

[Regina]

Toronto wanted an NHL team for the past 20 years..........call it square.

[Jabberwalker]

... and in exchange for lots of money, Toronto get a winning team of some sort? ... any kind?

Yeah. Right.

[BeaverFever]

Jabberwalker Jabberwalker:

... and in exchange for lots of money, Toronto get a winning team of some sort? ... any kind?

Yeah. Right.

Well, they have one, the Argos, which is what this article is really about.

[Jabberwalker]

... sometimes wins ...

[xerxes]

Considering how much teams ask other cities for new arenas, $10m isn't too much.

[Public_Domain]

But it is also more than affordable for them in the first place.

[OnTheIce]

Peanuts. Financially speaking, it's a sound investment.

$10 million to enhance a venue that will drive far more than 10 million in tax revenue with just one major event.

An event like the NHL Winter Classic will pump far more than 10 million into the local economy.

Organizers of the Pride parade in Toronto claim that the event nets the City 120+ million each year in economic activity.

[BeaverFever]

Investment means you buy a stake and earn an entilement to direct return.

Do you think Dragons Den would just give a donation, on the basis that their local businesses would indirectly benefit? Why not a loan?

[Jabberwalker]

What a total and complete waste of public funds that are badly needed elsewhere in Toronto. Toronto bears the biggest brunt of immigration to this country and they are saddled with supplying thousands of low cost housing units to those trying to get an anchor in this country ... a Federal responsibility, really. They can't levy income taxes like the Feds and Province can so they are stuck with raising revenues by this-and-that method.

If MLSE has a good product that sells, they don't need a tax give-away. If they don't have that product, they should fix their marketing plan.

[andyt]

Amazing how the right seems to love giving money to business as much as the left. Hell, with Chrysler, the Cons were crying because Chrysler didn't in the end want to take their 500 million.

[para-dice]

Our publicly sanctioned cable monopoly Rogers owns about $500 million of MLSE and the venue formerly called the SkyDome.

I wonder how many people thought when they were paying for their state sanctioned cable monopoly that they were actually creating a private entertainment empire.

Did you know the son of Founder Jim Shaw receives $6 million/month in "severance pay."

Thank you CRTC.

[Jabberwalker]

If it's good for Rogers, it's ...









... good for Rogers.

[OnTheIce]

Jabberwalker Jabberwalker:

What a total and complete waste of public funds that are badly needed elsewhere in Toronto. Toronto bears the biggest brunt of immigration to this country and they are saddled with supplying thousands of low cost housing units to those trying to get an anchor in this country ... a Federal responsibility, really. They can't levy income taxes like the Feds and Province can so they are stuck with raising revenues by this-and-that method.

If MLSE has a good product that sells, they don't need a tax give-away. If they don't have that product, they should fix their marketing plan.

If Toronto needs money badly to help with other causes, why wouldn't you support an investment of 10 million that will inject far more into the coffers of the City to support those causes?

You're taking 10 million and turning it into 100 million + in economic activity for just 1 major event.

andyt andyt:

Amazing how the right seems to love giving money to business as much as the left. Hell, with Chrysler, the Cons were crying because Chrysler didn't in the end want to take their 500 million.

Nice exaggeration. Nobody was 'crying' over Chrysler opting to fund the plant on their own.