Raise the Hammer
The Hamilton Spectator is live-streaming today's meeting to ratify the Pan Am stadium decision.
The live coverage starts at 10:30 AM.
By Hopeful (registered) | Posted January 31, 2011 at 10:23:39
Can I respectfully suggest that we add a $5-10 "Future Fund Reclamation" fee to tickets for IW2 events for the next twenty years or so?
By mrgrande (registered) | Posted January 31, 2011 at 11:43:14
They're talking $9 million for naming rights? That seem awfully high.
By Robert D (anonymous) | Posted January 31, 2011 at 12:42:06 in reply to Comment 58865
$9 million in today's dollars, spread over over 20 years.
By mrgrande (registered) | Posted January 31, 2011 at 12:57:27 in reply to Comment 58885
Ah, that seems more likely. I was interpreting it as a one-time fee.
By MattM (registered) | Posted January 31, 2011 at 12:55:11
Forgive me in not understanding, but who is to pay for these naming rights? Is this the City selling the rights to the Ti-Cats (and sponsors)? Or is it the other way around? I don't understand how that works.
By Andrea (registered) | Posted January 31, 2011 at 13:04:19 in reply to Comment 58891
My understanding only (subject to correction from anyone who knows better): Ticats will receive naming rights $$ from sponsor, City gets a percentage. Our City Manager & CFO explained that it is the Ticats that bring value to the stadium, so they should be receiving the revenue. Is that right?
By mrgrande (registered) | Posted January 31, 2011 at 13:20:12
http://twitter.com/#!/EmmaatTheSpec/status/32140704318754816
MOU between city and #TiCats has now been made public. 20-year lease, soccer franchise, and a soccer academy all part of the deal. #HamOnt
Edit Wait, what?
The MOU is only in effect if Bob Young remains the owner of the team.
Comment edited by mrgrande on 2011-01-31 13:21:37
By nobrainer (registered) | Posted January 31, 2011 at 13:24:20 in reply to Comment 58899
The MOU is only in effect if Bob Young remains the owner of the team.
What the hell kind of condition is that, I thought the MOU was with the corporation not the present owner!
Comment edited by nobrainer on 2011-01-31 13:24:37
By mrgrande (registered) | Posted January 31, 2011 at 13:28:00 in reply to Comment 58901
So if Bob Young sells the team next year, the new owner can move the team to another city, and Hamilton gets nothing. Not even the three years rent. Amazing.
By MattM (registered) | Posted January 31, 2011 at 13:24:05
Ah yes, there's the 'ol catch we've become so used to.
By goin'downtown (registered) | Posted January 31, 2011 at 14:15:15
Methinks Councillor Powers wants the Velodrome in Dundas. Great commentary, though. Someone besides McHattie needs to keep this torch brightly lit.
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