Edmonton Ceases Negotiations with Katz About New Arena

[chilly666]

Edmonton City Council votes to cease negotiations with Katz Group, cease design of Downtown Arena project. Vote was unanimous.

Link

[JKidd]

Wonder if it has anything to do with this:

EDMONTON -- City councillors set to decide the fate of a new arena for the Edmonton Oilers on Wednesday will do so without the help of the NHL team.

Oilers owner Daryl Katz said he will not meet with councillors in public to explain why they need millions of dollars more in public funding for the rink, and called on Mayor Stephen Mandel to show leadership.

"We have gone backwards," said Katz in a letter delivered late Tuesday to city council and the media.

"We and the city can't even agree on basic assumptions relating to the financial aspects of operating a new arena.

"Perhaps with more time and political leadership this deal can still be saved. But as it stands we remain far apart both on substance and process.

"Mayor Mandel, this is an opportunity for Edmonton to be bold and forward-looking, and it warrants your support and leadership."

Katz, in the letter, also accused the politicians of trying to corner his NHL team into accepting a lopsided deal.

"The city has approached this negotiation based on narrow political considerations rather than a general desire to strike a deal that is fair and makes economic sense for both sides," wrote Katz.

"We all understood the devil would be in the details, and indeed it was."

Katz has said he's a passionate Edmontonian who wants to keep the NHL team in the Alberta capital, but needs more money to compete in what he terms a "small market."

"The Oilers need Edmonton and Edmonton needs the Oilers. Each is an integral part of the fabric and the identity of the other," Katz told fans in full-page newspaper ads published two weeks ago to apologize for threatening to move the team to Seattle.

http://www.tsn.ca/nhl/story/?id=407513

[I like Boobs]

Mandel called his bluff... I find it hilarious that Katz calls for political leadership yet he won't even show up for meetings with the politicians. Katz is supposed to be a billionaire, but refuses to pony up his own dollars... That would make me very leery. There was a deal in place and Katz backed out demanding 6 Million more from the public coffers.

Even if Katz wanted to move this team, I don't think the NHL Board of Governors would ever approve a move. The Oilers are a very profitiable team and they won't want to kill a cash cow. When Katz took over he wanted to return the team to it's "glory days" but now that they have the personnel in place he's using Edmonton's love of hockey as leverage to bully the city to provide funding for a building he will own himself... Edmonton will get spin off values of course - increase in property value, revitalized down town, and money from concerts etc... But they get that from Northlands already.

[fcm]

Originally Posted by I like Boobs

Mandel called his bluff... I find it hilarious that Katz calls for political leadership yet he won't even show up for meetings with the politicians. Katz is supposed to be a billionaire, but refuses to pony up his own dollars... That would make me very leery. There was a deal in place and Katz backed out demanding 6 Million more from the public coffers.

Crony capitalism at its best. Government should simply stay out of there. Katz wants to make 100% of the profits by risking a big percentage of everybody else's money.

[fansince65]

The city of Edmonton has dragged their feet for the last four years on the building of a new arena , now I get the distinct impression that Katz is the one that is dragging his feet .
Maybe just maybe the offer he got from Seattle is just too good to not take a real good look at , something else to think about , he just could be maneuvering so he can move the team with the blessing of the NHL governors , the City of Edmonton dragging their feet for so long is in his favour if he applies to move the team , they have to be careful , he has more than one offer to move ..

[flex_buff_chest]

Originally Posted by fansince65

The city of Edmonton has dragged their feet for the last four years on the building of a new arena , now I get the distinct impression that Katz is the one that is dragging his feet .
Maybe just maybe the offer he got from Seattle is just too good to not take a real good look at , something else to think about , he just could be maneuvering so he can move the team with the blessing of the NHL governors , the City of Edmonton dragging their feet for so long is in his favour if he applies to move the team , they have to be careful , he has more than one offer to move ..

Of course they have. This is TAXPAYERS dollars. What do we owe this jerk? not a DAMN THING.

Why should my tax dollars go to something that will not impact me financially in any way shape or form?

For me, the only good thing about this arena is that it might revitalize the ghost town that is Edmontons downtown.