Holdurbreathe
Registered User
The CTC land alone is probably worth 10's of millions of dollars. Minto could be an entire community on CTC land. And as others have mentioned, the CTC could be turned into a shopping mall. Ottawa is short on retail space so it makes some sense.
Besides, if the NCC plays ball, the Sens should get a solid deal.
So Melnyk sells the CTC, moves his team to a stagnant downtown core, while the area he vacates continues to grow.
Not sure this makes good business sense considering the city's plans for light rail don't include anything beyond Bayshore for the foreseeable future.
IMO the NCC should only be involved after the province and city commit to financially supporting the construction of a new arena, just like what has occurred in Edmonton and Quebec City.
Otherwise it is just talk with little substance.
PS for those calling Melnyk scrooge, the cost of building a new arena could easily exceed $400M.
Now considering the team already carries ~$130M in debt, without some level of government funding it would appear some posters think Melnyk should carry 1/2 billion worth of debt just so they can attend hockey games downtown.
Of course after Melnyk paid the carrying cost on this debt there wouldn't be enough money to meet the cap minimum salary requirements.