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)
- WATCH LIVE: Today’s Stanley Cup playoff action 0
- Lucic issues statement on father’s passing 6
- Hall caught off guard by Oilers’ front office shuffle 11
- Wild’s Dubnyk shakes off six-goal night, saves 36 as Blues pushed to brink 31
- WATCH LIVE: Tonight’s Stanley Cup Playoff action 5
- Malkin: ‘I want to say sorry to fans, to my teammates’ 49
- It’s Done: Rangers eliminate Penguins in overtime 104
- Sens’ Anderson continues to haunt Habs, forces Game 6 12
- Price, Dubnyk, Rinne are Vezina Trophy finalists 16
- Chicago to start Darling in Game 6 21
- Of course they did: Oilers win 2015 NHL Draft Lottery, will select first overall (174)
- Too little, too late: Rangers stifle Penguins for 2-1 series lead (114)
- It’s Done: Rangers eliminate Penguins in overtime (105)
- Eichel understands Murray’s disappointment, but ‘extreme competitor’ has ‘a lot to offer’ (98)
- Bettman under fire after saying ‘Katy Perry’ chant wasn’t sexist (91)