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Old 12-21-2006, 02:28 PM   #611
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Default Re: Pens Tidbits

At this point I'm just looking for some hope. Ditto 83, hopefully he is seriously interested. You know a friend of mine brought up a point. The state government is supposedly trying to help correct. Well there is two casinos in Philly why don't they chip in to help the Penguins as they are an asset to this state.
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Old 12-21-2006, 02:37 PM   #612
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Default Re: Pens Tidbits

You mean the state chip in? I'm a little confused by your question. Sorry, it's been a long day...lol.

If the Penguins take Plan B, they would chip in $7 million a year for 30 years.
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Old 12-21-2006, 02:40 PM   #613
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That tells me they want to get an arena that's more expensive then the IOC plan.
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Old 12-21-2006, 02:42 PM   #614
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Default Re: Pens Tidbits

Are the casinos in Philly chipping in? Like is the state taking money earned from those 2 adding it into the pot basically. A friend had brought that up to me last night.
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Old 12-21-2006, 02:45 PM   #615
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Are the casinos in Philly chipping in? Like is the state taking money earned from those 2 adding it into the pot basically. A friend had brought that up to me last night.
I gotcha now. The two casinos in Philly would be chipping into the state fund, which would partially be used for a new arena.
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Old 12-21-2006, 02:48 PM   #616
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Okay, well that is good then. I'm just hoping we find a solution.
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Old 12-21-2006, 02:54 PM   #617
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Default Re: Pens Tidbits

The funny part, if you look at Plan B, it's not that bad of a deal. It states the Penguins would have to spend $8.5 million up front and $2.9 million a year for 30 years. Keep in mind, that negotiable. That price can and probably would go down for the Penguins. If you want to keep this team in Pittsburgh, your going to have to pay at least something. The problem, the Penguins didn't want to pay anything (IOC).

The Majestic would pay $7.5 million a year for 30 years, while the state would pay $7 million a year. That equals out to $435 million total. That's not a bad deal.
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Old 12-21-2006, 03:01 PM   #618
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Default Re: Pens Tidbits

You are absolutely correct 83. The numbers are pretty good. Now compared to IOC of course they look bad because well IOC was completely free. My issue is what did they not like about the IOC deal? Because a casino on North Shore does not sound smart. I mean traffic will be backed so far.
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Old 12-21-2006, 03:11 PM   #619
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You are absolutely correct 83. The numbers are pretty good. Now compared to IOC of course they look bad because well IOC was completely free. My issue is what did they not like about the IOC deal? Because a casino on North Shore does not sound smart. I mean traffic will be backed so far.
Your guess is as good as mine.

IMO, they figure The Majestic would generate more money than the others, which means higher taxes, which means more money they will have to dish out. As for the location. It's not great that's for sure. But the South Side and Station Square wouldn't have been much better in my opinion. While I believe the Rooney's have a legitimate beef, they better watch what they say because they have been building up on the North Side themselves. I think it also helped that Mr. Berden happens to be a minority. Makes those in charge look good.

Just my opinion.
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Old 12-21-2006, 03:14 PM   #620
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Default Re: Pens Tidbits

I hope as soon as the IOC Deal is expired. They give them something to look to and Mario within days of purposal signs it. Yes he'd have to sign a new lease at Mellon while the Arena is being buildt, but at least their would be a future.
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