Dec 2, 2013, 4:21 PM EDT
The city has been wrestling for some time with a proposal to build a $325-million arena that would hopefully house an NHL team. Mayor Frank Scarpitti revealed a modified version of the funding structure on Friday with a murky new $70-million extracted from unnamed developers. The plan is still full of holes, with at least $50-million not covered, and council is expected to vote on a previous version of the funding structure Monday or Tuesday. And between now and then, someone should tell them that they are risking an enormous amount of money for a project that is somewhere between risky and outright insane.
Arthur goes on to cite an NHL source that calls the Markham project “delusional,” at least with respect to the league’s plans for the market (translation: there aren’t any, really).
There’s more in the piece, including a quote from NHL commissioner Gary Bettman: “We have never been encouraging of this project. And we have repeatedly said that if this building is built, it should be built with the expectation that they will not get a team.”
After you read Arthur’s column, please do read our piece on Quebec City, and why expansion or relocation to that particular market seems inevitable.
Update (5:24 p.m. ET)
- Voynov serving sentence at jail that once advertised it had flat screen TVs 29
- Report: Bernier and Leafs more than $2 million apart ahead of Friday’s arbitration hearing 9
- Flyers re-sign Couturier: six years, $26 million 38
- Benning calls Sutter a ‘foundation piece’ for Canucks 24
- Here’s a chart that shows which teams have been good/bad at drafting 40
- Penguins sign Fehr to three-year, $6 million contract 21
- Trade: Penguins send Sutter to Canucks for Bonino, Clendening 54
- NBC Sports to broadcast 105 NHL games in 2015-16 58
- Wilson signs with Preds, leaving just four arbitration cases to go 5
- Rangers sign Stepan — six years, $39 million 62
- He’s baaaaaack: Leafs pull a stunner, hire Lamoriello as GM (Updated) (84)
- Bettman says NHL would have to ‘consider’ putting Quebec City in the Western Conference (70)
- Rangers sign Stepan — six years, $39 million (62)
- NBC Sports to broadcast 105 NHL games in 2015-16 (58)
- Trade: Penguins send Sutter to Canucks for Bonino, Clendening (54)