“MacKinnon: Uncertainty over Edmonton arena casts shadow on Oilers”

Edmonton Journal - MacKinnon: Uncertainty over Edmonton arena casts shadow on Oilers

It looks like the EAD discussion is finally coming to a head, although one could argue that we should have been at this point years ago.

From the Article

For starters, he might point out that, whatever theoretical solutions might be dreamed up, the pragmatic reality is in a market the size of Edmonton, an entrepreneur like Katz, who is willing to contribute what amounts to $225 million toward a new arena is a rarity, if not unique.

Bettman might reinforce the hard reality that a new arena is a precondition for the long-term future of the Oilers in Edmonton, pure and simple.

If the downtown arena deal blows up, the options for Katz would be several, including selling the team for a minimum of $200 million to local interests.

But any new owner is going to demand a new arena sooner than later. Would a new owner, or ownership consortium be forthcoming with the equivalent of $225 million for a new facility? Doubtful.

Also From the Article

The choice is between taxpayers footing the entire bill for a new arena, or the entire cost of renovating Rexall Place and the flawed-but-fair private-public partnership Katz and the City have been working on for three years.

I think that what Edmontonians are finally starting to realize is that we’re going to invest tax dollars in an arena. Now we need to decide whether we want to invest in a revitalized downtown and the long-term stability of our Oilers or if we want to pour hundreds of millions of dollars into what’s nearly a 40 year old structure that’s long past its prime.

Make It Happen

I know I sound like a broken record but the best way to move this project forward is to speak up and get involved. You don’t need to camp out in front of city hall or get an Oilers tattoo on your throat but you do need to say your piece.

Call 311 and let the city know you support the Edmonton Arena District. If you’re feeling verbose, send an email to councillors@edmonton.ca telling the mayor et al to get this thing built!