Draftnik wrote:It would make $$$ for the Pens. The deal is they would lease the arena from the SEA for a fee, say $3M per year. They would control all sponsorships such as naming rights, parking, concessions, suite leases, premium seating, etc for all 200 events. Right now the Pens control very little of that at Mellon Arena.
FC/Ratner are coming up with figures for infrastructure, land (city/county offered that for free already to someone willing to build), and who knows what else that the City/County/SEA are already prepared to chip in.
Well, first of all, under the IoC plan, the Pens are responsible for all overages above $290 Million. Secondly, the final verbage has yet to be released so no one knows yet how the deal would be structured (Concessions, parking, naming rights, etc...).
Even given all that, you have no basis for saying the Pens would pay $3million a year. No one knows that number. Also, no one knows how many other events would be hosted or what the lease numbers would be for those events.
Finally, FC / Ratner has never qualified their numbers other than to use the $119 Million figure. They never mention if that was just for infrastructure or was for other expenses. If it was simply for infrastructure, they must be including a Maglev between the Arena and Sta. Square. Because that number is extrodinary.
Draftnik, you make statements like these facts are a given. They're not, it's pure conjecture at this time.