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By Simon (registered) - website | Posted January 24, 2011 at 11:13:12
Just read the staff report - unless I'm reading it cross eyed - it looks like the TiCats and their sponsor's "significant" corporate "contribution" doesn't even cover the City's operating costs!!!!
How you can call a ticket surcharge a "contribution" is one thing - but the City will still be paying upwards of $1,000,000 per year in operating costs!
I think the whole IWS thing is simply an organized operation by the Tiger Cats management, with the assistance of the Mayor of Hamilton I might add - to limit the legal liability of the Tiger Cats if/when the entire $70,000,000 of funding is lost to another community.
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