- Thread starter
- #1
forty_three
Stance: Goofy
- 48,497
- 23,018
- 1,033
- Joined
- Apr 19, 2010
- Hoopla Cash
- $ 1,000.00
- Fav. Team #1
- Fav. Team #2
- Fav. Team #3
Proposed deal: Casino tax revenue would fund purchase of Nationwide Arena | The Columbus Dispatch
Essentially what it is saying is a new casino being built would have around 30% of the tax revenues scraped off the top so the City can buy the arena which Nationwide owns outright.
In turn, Nationwide will invest in the team, taking an ownership stake lessening the burden on Mr McConnell and his company.
Then the team and/or city can sell the naming rights for liquid cash flow every year and stop "losing" that money.
Or, even shorter, a bunch of rich people trade money and nothing changes for the people paying to put their asses in the seats except that now income tax is not funding the deal.
And that under the deal they agree to keep the team in town til 2039. This part is my favorite.
Essentially what it is saying is a new casino being built would have around 30% of the tax revenues scraped off the top so the City can buy the arena which Nationwide owns outright.
In turn, Nationwide will invest in the team, taking an ownership stake lessening the burden on Mr McConnell and his company.
Then the team and/or city can sell the naming rights for liquid cash flow every year and stop "losing" that money.
Or, even shorter, a bunch of rich people trade money and nothing changes for the people paying to put their asses in the seats except that now income tax is not funding the deal.
And that under the deal they agree to keep the team in town til 2039. This part is my favorite.
