Kukla's Korner Hockey
Edmonton City Council Has Had Enough With The Katz Group
by Paul on 10/17/12 at 07:49 PM ET
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from the Edmonton Journal,
City council has voted to cease negotiations with the Katz Group on a downtown arena and will explore the possibility of building an arena themselves.
“Enough is enough,” said Coun. Dave Loken, whose motion to cease negotiations passed unanimously on Wednesday. “We’re going nowhere with these negotiations.”
Mayor Stephen Mandel said that nothing justifies giving the Katz Group another $6 million a year in an operating subsidy.
“I don’t believe we are much further ahead today than we were four years ago except for a greater ask of money.”
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Paul Kukla founded Kukla’s Korner in 2005 and the site has since become the must-read site on the ‘net for all the latest happenings around the NHL.
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The city seems to be calling Katz’s bluff.
I can’t imagine the city building the arena themselves though. They could do it, but then once again Katz would have all the leverage in lease negotiations since they’d have no other real potential anchor tenant. Katz could just say “Yeah, I don’t like that number. Let’s halve that” or something ridiculous and the city couldn’t really say “No” and just leave a new arena empty…
Posted by Primis on 10/17/12 at 11:30 PM ET