November 2, 201311 yr comment_27564 The team has value. The debt on me stadium is not the team. The obligation the team has to pay for the stadium is a problem. Your $10,000 car with a $100,000 lien against it doesn't change the fact your car is worth $10,000. But yes as long as the debt repayment obligations are apart of the deal, no one will buy the team. A prospective entity would have to determine how much income is derived from the stadium alone. Are there enough extra events to generate a million dollars a year? If so maybe a deal where owner pays $10 million for team and $500,000 a year in "rent" for 50 years plus a a $3 surcharge on tickets for 50 years. You can get pretty close to paying off most of the debt. Nobody with two brain cells to rub together would pay $10 million to take that debt obligation (Football Club) and then pay to lease the stadium. If the Bombers could operate at a $5 million profit every year there would be no problems, but they can't, even in the new stadium. They can't service the debt on the operations of the Football Club (even if Jon Bon Jovi made IGF into a karaoke bar for the month of May every year), which is why the Football Club is worthless as a business. It's unlikely that a private operator would take on the Bombers for free with the debt obligation and no way to pay it back.
November 2, 201311 yr comment_27565 How do you hand a publicly owned team to a private enterprise?The Bombers aren't publicly owned, their a Non Profit Organization, so the Board would have to approve any take over.To be accurate they are "community-owned team" No they themselves says they are a non profit organization. Actually read their web site...!!! http://www.bluebombers.com/page/history
November 2, 201311 yr comment_27567 Who exactly does your prospective new owner actually pay the 10 million to?
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