Friday, August 17, 2007

Preds group asks for tax money

If taxpayers don't pay an additional $3 million per year to support the Nashville Predators hockey arena, a deal to keep the team in town could fall apart, the leader of a local buyers group said Thursday.

David Freeman, CEO of 36 Venture Capital and leader of the group, said the partners are working with the city to have the public money come from sources like sales tax generated by the hockey team.
The local group is also looking for additional relief on the team's lease, which is already the most forgiving in the entire league.

It seems the incoming ownership group comes with a few caveats for the people of Nashville, one of them that "would increase annual public support of the arena from $13 million to $18 million."

Throw in the sales-tax monies, and that's an awful lot of kickbacks.
Freeman said the buyers group is asking the city to "guarantee" the team average attendance of 14,000, by agreeing to buy tickets to make up any shortfall. In exchange, he said, the owners would agree to remove a clause allowing the team to leave Nashville.
Talk about eliminating the risk on your investment.

Nashville City Paper has much more.

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4 Comments:

At 12:41 PM, August 17, 2007, Anonymous mc keeper said...

For the love of God, end this farce now. Give this clown "Boots" and his group the boot and move the team to Hamilton already. I haven't heard anything about any kind of tax subsidies in Ontario for a team.

 
At 12:50 PM, August 17, 2007, Anonymous Anonymous said...

Unreal. The people of Nashville are fools if they give these in to those absurd demands. "Venture" implies "risk". Where is the risk? Wait, there it is...it has been assumed by the taxpayers.

 
At 3:43 PM, August 17, 2007, Anonymous Anonymous said...

Yes, this story is the reason they should move to Hamilton. Forget everything else. This is it.

 
At 10:19 PM, August 18, 2007, Anonymous Eric L said...

Well James, if journalism does not work out for you, it's obvious you can always go into sheep hearding.

 

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