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By Simon (registered) - website | Posted October 16, 2012 at 16:46:06 in reply to Comment 81742
Trolls aside...
$54 million amortized over 50 years at 5% interest is only $245,000 per month - or about $3 million per year.
Bob Young said that when he took over the Tiger Cats their gross revenues were $5 million and he has built that to $15 million.
$3 million a year for a property lease does not seem unreasonable for an organization with $15 million in gross revenue.
A small business owner with a gross income of 150k and an office / storefront lease of $2500 / month would be paying the same ratio - which is a bit high - but doable.
Of course the point of a new stadium is to increase the Tiger Cats gross revenue - so the more money they make the less of a burden their property lease would be.
And the City would eventually make all of its investment back - PLUS interest.
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