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Unfortunately, that arena is dead and no money is going to fix it. Without a major anchor attraction, it’s pissing away good money after bad. Get an NHL team in and do it right. Concert venues have eaten up that business and the Wolfpack isn’t the answer.What’s 55 million gonna get? New soda machines?
Typical Lamont. Anything worth doing is worth doing half-arsed.
I could be mistaken but the article states that the 55 million would be in addition to 35 million that's already been approved. So really it would be around 100 million.
I could be mistaken but the article states that the 55 million would be in addition to 35 million that's already been approved. So really it would be around 100 million.
Edit: 90 million. Sorry I suck at math.
>>The $55 million — $27.5 million for the current fiscal year and the same in the next — would still need to be approved by state lawmakers and authorized by the State Bond Commission. If it is, however, it would be added to $35 million already backed by the bond commission for the project, bringing the total close to the $100 million.<<You’re right. It does, $100m. None of the Negative Nellies above bothered to read it.
I thought I was miss reading based on the responses above. $100 million would alright but still would be far short to making the arena nice.>>The $55 million — $27.5 million for the current fiscal year and the same in the next — would still need to be approved by state lawmakers and authorized by the State Bond Commission. If it is, however, it would be added to $35 million already backed by the bond commission for the project, bringing the total close to the $100 million.<<
As I said before two or 3 million here and two or 3 million there and sooner or later you’re talking about real money.The XL Center currently loses $2-$3 million dollars a year. In a state with a $20 billion dollar annual budget I hardly think that is anything to lose sleep over.
Could have built a beautiful brand new arena by now. What a disaster that state is.
I’m all for thinking big. Our problem is we think medium-small and hedge our bets, this inviting mediocrity at best and failure at worst. If you want to go big, then go big and get an NHL or NBA team in there. Better yet, drop the $100 Million into subsidizing a P5 move and you’ve created the draw for entertainment year round. Drop a casino next to the convention center, and pull in some entertainment and it becomes a place to visit. We always spend just enough to guarantee failure.As I said before two or 3 million here and two or 3 million there and sooner or later you’re talking about real money.
Keep in mind that that two or 3 million loss is after you cans men’s basketball, women’s basketball, and hockey over pays for the venue effectively subsidizing it.
I’m not a big believer in the “ Field of dreams” theory of business development. The CDRA seems to believe that “if we re-build it they will come.” I would much rather see a coaching business plan that justifies the state investing in the venue rather than checking more money down that sinkhole in keeping our fingers crossed it’ll all work out.
I heard that is what happened when Gampel was built. Original plan was for a bigger arena. By the time they got through all the red tape they had to scale it back because the money allocated wouldn't buy as much. Not sure if this was true. Was told this by an engineering professor who I did some work with.Could have built a beautiful brand new arena by now. What a disaster that state is.
cities w/o a nba team: vegas, seattle, san diego...hartford.then go big and get an NHL or NBA team in there