CFL 2024

[joestevens29]

Katz is good at pouncing when he sees blood in the water. The City is hemorrhaging money and seems pretty vulnerable at this point, so who knows what he has up his sleeve. Will give him credit for being a good visionary, so will be interesting if this has legs.

With all his other contacts Katz has who knows what he has up his sleeve. Fact of the matter is Commonwealth just isn't used enough.

Katz probably sees it as a venue he can probably run a bunch of events out of at pretty much zero risk and make money off of it.

As a taxpayer it's kind of sickening how little that venue gets used, but at the same time I'd probably be even more sick if the City tried to run it themselves as they find a way to lose piles of money every time they touch things.

 

[K1984]

Wonder if Katz is thinking about MLS if he is making some sort of play on Commonwealth to own and or retrofit it.

CFL is frankly a terrible investment, but MLS is not as we sit here today. It's really the only thing I can think of that would be of any real value to someone looking to make some sort of investment in a stadium that currently gets used about 20 times per year, and only 10 times with guaranteed dates.

Edit - just looked at estimated MLS franchise values and earnings, and I may have to revise my statement, at least as it pertains to a market like Edmonton. The Vancouver and Montreal franchises are financial basket cases, and I can't imagine Edmonton would have a hope of out performing franchises in these locations financially. Even Toronto is a loser as well.

 

[MoontoScott]

With all his other contacts Katz has who knows what he has up his sleeve. Fact of the matter is Commonwealth just isn't used enough.

Katz probably sees it as a venue he can probably run a bunch of events out of at pretty much zero risk and make money off of it.

As a taxpayer it's kind of sickening how little that venue gets used, but at the same time I'd probably be even more sick if the City tried to run it themselves as they find a way to lose piles of money every time they touch things.

I like the idea of private industry stepping in to this situation--- instead of the continuation of a municipality and a BOD that has proven ineffective in this matter-- and many others. Especially with the city in financial uncertainty, hand this matter over to those who are experienced with deals related to sports venues.

 

[joestevens29]

I like the idea of private industry stepping in to this situation--- instead of the continuation of a municipality and a BOD that has proven ineffective in this matter-- and many others. Especially with the city in financial uncertainty, hand this matter over to those who are experienced with deals related to sports venues.

I'm all for private taking over a lot of things when it comes to this City. Seems like every city council gets dumber

They just find ways to lose money or waste money on too many things.

And at the end of the day it's not like the City is doing anything with the damn place anyway. Having someone private run it is going to bring more events, festivals, sports teams to the city.

Give it to Katz and hope the deal is that he covers all the overhead costs associated with the Stadium and call it a day. Although something tells me he'll probably convince them to keep covering the overhead costs.

 

[Heavy Dee]

How? Doesn't the City own Commonwealth and isn't there an attached City rec centre? If he doesn't buy the Elks, what involvement does he need to have unless he's also buying an MLS team to put in there

It would have to be a MLS team

 

[joestevens29]

Doesn't MLS start in February?

 

[Heavy Dee]

Doesn't MLS start in February?

Domed roof?

 

[TopShelfGloveSide]

Domed roof?

Is that even possible?

 

[Heavy Dee]

Is that even possible?

Nielsen gives that rumor credibility. Only thing that would make sense for Katz is MLS which wants to expand to 32.

Danielle Smith has basically said Edmonton will get the equivalent of what Calgary got for their new rink. Would she pay to roof Commonwealth if Katz ponied up 500 mil for a MLS franchise???

It might work..

 

[TopShelfGloveSide]

Nielsen gives that rumor credibility. Only thing that would make sense for Katz is MLS which wants to expand to 32.

Danielle Smith has basically said Edmonton will get the equivalent of what Calgary got for their new rink. Would she pay to roof Commonwealth if Katz ponied up 500 mil for a MLS franchise???

It might work..

I would be very excited.

 

[K1984]

Nielsen gives that rumor credibility. Only thing that would make sense for Katz is MLS which wants to expand to 32.

Danielle Smith has basically said Edmonton will get the equivalent of what Calgary got for their new rink. Would she pay to roof Commonwealth if Katz ponied up 500 mil for a MLS franchise???

It might work..

Commonwealth is such a strange and spread out design that I can't conceive any path to converting it to an indoor stadium for anything close to $300M.

The type of stadium you need for an MLS franchise in Edmonton would have to be indoor, an intimate environment, and probably no more than about 30,000 seats. Scrapping Commonwealth and starting over would probably be the only path to that, but that bill would probably be north of $1B at this point for anything of modern quality.

 

[Heavy Dee]

Commonwealth is such a strange and spread out design that I can't conceive any path to converting it to an indoor stadium for anything close to $300M.

The type of stadium you need for an MLS franchise in Edmonton would have to be indoor, an intimate environment, and probably no more than about 30,000 seats. Scrapping Commonwealth and starting over would probably be the only path to that, but that bill would probably be north of $1B at this point for anything of modern quality.

You're probaby right. The city still has the old racetrack land as well. Just can't see them abandoning Commonwealth though.

 

[MoontoScott]

I'm no structural engineer but I just can't see how you would put a roof on Commonwealth.

 

[Heavy Dee]

I'm no structural engineer but I just can't see how you would put a roof on Commonwealth.

I was once told that entire top section would be removed then build the roof. Then dig the field down taking up the running track adding approx 10k seats, bringing the seats close to the field. That would leave you about a 35k stadium.

 

[MoontoScott]

Commonwealth is such a strange and spread out design that I can't conceive any path to converting it to an indoor stadium for anything close to $300M.

The type of stadium you need for an MLS franchise in Edmonton would have to be indoor, an intimate environment, and probably no more than about 30,000 seats. Scrapping Commonwealth and starting over would probably be the only path to that, but that bill would probably be north of $1B at this point for anything of modern quality.

Yes, if you were going to add a roof (assuming it is technically possible) then you are probably better off just constructing a new building. I'm sure the tab for a new roof (retractable?) would be a few hundred million.

I think a lot of these reporters/pundits don't understand how construction costs have soared. I can't see Katz fitting the bill for something that is probably north of 500M and probably 1 billion by the time you get finished--if we are talking about a new stadium.

I was once told that entire top section would be removed then build the roof. Then dig the field down taking up the running track adding approx 10k seats, bringing the seats close to the field. That would leave you about a 35k stadium.

Interesting concept---but that would take 3 years to do even if you found the funds??

 

[TopShelfGloveSide]

I was once told that entire top section would be removed then build the roof. Then dig the field down taking up the running track adding approx 10k seats, bringing the seats close to the field. That would leave you about a 35k stadium.

I was just going to pitch demolishing the top sections and converting the tracks into seats. Haha.

That would be an insane project though.

 

[Heavy Dee]

I was just going to pitch demolishing the top sections and converting the tracks into seats. Haha.

That would be an insane project though.

It would be expensive no doubt. But probably cheaper than building a new and then having to demo Commonwealth.

If Katz pitched an Alberta FC concept to Smith and the the City of Edmonton, I could see there being support for it.

 

[PositiveCashFlow]

Doesn't MLS start in February?

(granted it was near zero for some reason on Jan 30 2022 in Hamilton)

Doesn't TFC play out of BMO? Or do they use Skydome in the winter?

 

[K1984]

Yes, if you were going to add a roof (assuming it is technically possible) then you are probably better off just constructing a new building. I'm sure the tab for a new roof (retractable?) would be a few hundred million.

I think a lot of these reporters/pundits don't understand how construction costs have soared. I can't see Katz fitting the bill for something that is probably north of 500M and probably 1 billion by the time you get finished--if we are talking about a new stadium.

The Flames new arena is going to cost just under $1B, and that's as we sit today before the inevitable cost overruns.

This is Quebec, so consider the mob tax when evaluating this number, but a new roof for Olympic Stadium was budgeted at $870M, and that's for a stadium already designed to have a roof. Short of government footing a massive part of the bill, I can't see how anyone with a functioning brain would think it's a good idea to invest that much capital into a stadium or roof even if an MLS team came with it.

 

[MoontoScott]

The Flames new arena is going to cost just under $1B, and that's as we sit today before the inevitable cost overruns.

This is Quebec, so consider the mob tax when evaluating this number, but a new roof for Olympic Stadium was budgeted at $870M, and that's for a stadium already designed to have a roof. Short of government footing a massive part of the bill, I can't see how anyone with a functioning brain would think it's a good idea to invest that much capital into a stadium or roof even if an MLS team came with it.

Agreed-- the political mood has shifted all over North America.

People are struggling with taxes and inflation and have had enough of tax dollar funding for mega projects.

The other reason is more practical. Demolishing the upper sections to add a roof might lead to collapse or major structural cracks in the lower sections. This is a building that is almost 50 years old.

Can't see this happening but Katz knows how to get it done.

 

[Heavy Dee]

The Flames new arena is going to cost just under $1B, and that's as we sit today before the inevitable cost overruns.

This is Quebec, so consider the mob tax when evaluating this number, but a new roof for Olympic Stadium was budgeted at $870M, and that's for a stadium already designed to have a roof. Short of government footing a massive part of the bill, I can't see how anyone with a functioning brain would think it's a good idea to invest that much capital into a stadium or roof even if an MLS team came with it.

If the city and the province split the cost like they are doing in Calgary, then maybe it makes sense to someone. For Katz it's about the exponential growth for another major sports franchise.

 

[TopShelfGloveSide]

The Flames new arena is going to cost just under $1B, and that's as we sit today before the inevitable cost overruns.

This is Quebec, so consider the mob tax when evaluating this number, but a new roof for Olympic Stadium was budgeted at $870M, and that's for a stadium already designed to have a roof. Short of government footing a massive part of the bill, I can't see how anyone with a functioning brain would think it's a good idea to invest that much capital into a stadium or roof even if an MLS team came with it.

It’s definitely crazy but with a billionaire owner and some serious funding from the city / province it’s not completely out of the realm of possibility.

There is big time money to be made here with sports if done properly.

I also expect Alberta to be booming again in 2 years. If all goes how it should.

 

[timekeep]

If the city and the province split the cost like they are doing in Calgary, then maybe it makes sense to someone. For Katz it's about the exponential growth for another major sports franchise.

I think for Katz it's about money! He has made a bit of money off the Oilers but it's nothing compared to what he has made off the real estate he sold off around the Ice District. He has loads of money and could sell the Oilers for an outstanding profit but probably sees a chance at getting his name on the cup. And there needs to be a buyer.

Regarding MLS in Edmonton, can it make money, we have tried Soccer so many times and it doesn't work here. Exhibition games and big tournaments work but they don't have to pay the players. Earlier someone mentioned that Montreal and Vancouver aren't making money. Both are much bigger than Edmonton.

This whole Esks sale and Commonwealth rights are getting puzzling. I do like the idea of digging deeper and getting more intimate with the field as that stadium is terrible for watching a game.

 

[SupremeTeam16]

If the city and the province split the cost like they are doing in Calgary, then maybe it makes sense to someone. For Katz it's about the exponential growth for another major sports franchise.

This what I see as well. MLS team values have been steadily gaining and during Trumps presidency the big pro leagues were seeing revenues increase pretty substantially until Covid hit. With changes in government likely on both sides of the border in the next 18 months it’s probably a good time to look at an MLS expansion franchise thats likely going to see a substantial increase in value even if it’s not a great market.

 

[joestevens29]

A doom ain’t happening no one is gonna put up the money