Dec 2, 2013, 4:21 PM EST
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)
- Roberto Luongo records the shutout in first game back with Panthers 13
- Steve Moore remains shocked, disgusted about Todd Bertuzzi attack 42
- Canucks’ Kassian gets three games for boarding Dillon 26
- TGIF: Why Lightning fans can be upset with St. Louis 31
- Goalie nods: Luongo’s first game back with Panthers, Neuvirth makes Sabres debut 12
- Report: Kuznetsov terminated KHL deal, headed to Washington 20
- Canucks’ Bieksa: ‘If this isn’t rock bottom, I don’t know what is’ 34
- Luongo has Twitter fun at Canucks’ expense 36
- Sabres spoil Callahan’s Lightning debut, Stamkos’ return 7
- Dealing with the Devils: NHL reverses Kovalchuk punishment 49
- Canucks trade Luongo to Panthers (93)
- BLOCKBUSTER: Lightning trade St. Louis to Rangers for Callahan (82)
- Kings make splash, acquire Gaborik from Columbus (72)
- Report: Canucks want center, top prospect and first-rounder for Kesler (68)
- Sabres announce Pat LaFontaine resigns as president of hockey operations (66)