Mar 29, 2012, 6:41 PM EDT
The Columbus Dispatch is reporting that the Franklin County Convention Facilities Authority closed on its purchase of Nationwide Arena yesterday in a transaction that’s expected to save the Blue Jackets $9.5 million a season and, more importantly, keep it from relocating until at least 2039.
That’s the plan anyway. (More on that later.)
The $42.5 million purchase of the downtown arena from Nationwide Realty Investors will be financed with county and city casino revenue (proving once again that gambling can solve everything).
It’s a good deal for the money-losing club, which was able to finagle a rent-free lease by doing what every savvy pro sports franchise does when times get tough – threatening to move.
Writes the Post: “City and county officials have said that their decision to buy the arena wasn’t about hockey; it was about protecting the Arena District that sprang up around Nationwide Arena after it opened in 2000. What was an empty landscape dominated by a closed, decaying prison is now home to apartments, condominiums, restaurants and offices. Nearly 10,000 people work there.”
Now, it’s worth noting that there’s a way for the Jackets to skip town before 2039 — they just have pay $39 million in damages. And while $39 million isn’t peanuts, if Columbus keeps hemorrhaging money, it might become a price worth paying to move to a more profitable market.
But let’s not worry about that now. Today is a good day for Columbus hockey fans, and those have been few and far between this season.
To celebrate the big news, the Jackets have signed goaltender Steve Mason to a 10-year, $50-million extension.
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- Update: Wild’s Harding out indefinitely with fractured foot 17
- Johansen heads home from Columbus as talks get even messier 14
- Kesler accuses Vancouver media of making up stories, ‘throwing people under the bus’ 19
- Jackets reveal Johansen offers — including an eight year, $46M deal 49
- Mike Yeo is pretty unhappy with Minnesota’s goalie situation 20
- Much to his relief, Lecavalier will start season at center 14
- Heeeeeere’s Johnny! Davidson shreds Johansen’s agent for ‘baffling, nonsensical’ contract demands 61
- Advantage Kuemper? Harding on crutches after ankle injury 15
- Done deal, finally: Wings ink DeKeyser to two-year, $4.375M extension 11
- Heeeeeere’s Johnny! Davidson shreds Johansen’s agent for ‘baffling, nonsensical’ contract demands (61)
- Chiarelli: At some point, I’m going to have to trade a defenseman (56)
- Jackets reveal Johansen offers — including an eight year, $46M deal (50)
- Will the NHL publicize divers? (48)
- No icing on the PK? The USHL will see how that looks (43)