MetroCentre Follow-up
Sorry for the delay in posting...
The County Board voted to approve contributing to MetroCentre renovations, again. Most recently without any significant "strings attached." I had hoped, and still hope, to see an accurate pro forma (financials) on the proposal. Contrary to popular belief, the County isn't an equal partner in this deal. The City and MetroCentre have failed to produce a complete financial analysis of the team ownership part of the equation, with most Board members voting on this simply on the word of City officials.
Based on an incomplete pro forma and additional information from MetroCentre officials, still won't see a profit. That's OK, if the City is prepared to subsidize the facility, but I think the City and MetroCentre officials have convinced themselves that new luxury suites and marketing sponsorships are going to save the day. Unfortunately the revenue-side of the pro forma seems inflated and the expense-side of the equation seems incomplete when all expenses are taken into account.
I voted for the basic MetroCentre renovations, but still doubt that the City and MetroCentre have done all the necessary research to make hockey team ownership a profitable endeavor. I hope I'm wrong, for the taxpayer's sake.