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)
- Ouch: Wild reportedly suspend Harding for ‘non-hockey injury’ 4
- Keeping Kuemper: Wild sign goalie to two-year deal reportedly worth $2.5M 9
- Selanne regrets harsh words toward Boudreau 3
- Flyers’ Timonen admits chances of playing are ‘really slim’ 7
- Desjardins (a.k.a. not Torts) makes good first impression on Canucks 22
- Leafs deny rift between Kessel and coaching staff 20
- Injured Crosby, Malkin will miss start of Pens’ camp 10
- Selanne rips Boudreau in book 18
- Just how damaging are heated negotiations between Jackets, RFA Johansen? 38
- Panthers owners say they’re committed even though team has lost ‘tremendous amounts of money’ 12
- Heeeeeere’s Johnny! Davidson shreds Johansen’s agent for ‘baffling, nonsensical’ contract demands (62)
- Chiarelli: At some point, I’m going to have to trade a defenseman (56)
- Jackets reveal Johansen offers — including an eight year, $46M deal (54)
- Will the NHL publicize divers? (48)
- No icing on the PK? The USHL will see how that looks (43)