Daryl, you've gathered a lot of support for a new arena but unless you
build it yourself, it's not going to be built. There are a number of
reasons. The first, the Edmonton Oilers no longer appear to be a
community team. Although the team has always been privately owned, the
previous owners were perceived to be community based. Second, Rexall
Place is a good venue for the Oilers and well connected to
transportation corridors. Third, Rexall Place is a valuable asset (
guess $100 million as it stands) and probably worth more without the
Oilers lease -- it is not going to be closed. Fourth, without Rexall
Place closing, the economics of a competing arena may not support the
investment. Fifth, the citizens of Edmonton realize that current tax
dollars, future tax dollars, and foregone tax dollars are all tax
dollars. Sixth, you want the city to build you an arena, let you use it
for free, and then give you all the revenues generated from the
building. Would you want to be on the other side of this deal?
Seventh, the only reason this project is being proposed is to increase
Oiler revenues. A renovated Rexall Place would allow this and probably
be available with appropriate contributions from the Oilers and a
suitable lease arrangement. Eighth, other projects (convention centre)
could anchor down-town development and provide more sustained use that
would encourage other developments. Finally, the best way to improve
Oiler revenues is to put a successful team on the ice. Without a
competitive team, it won't matter what the arena looks like.
- posted by Larry @ 1:40 p.m.