First published on Dec 13, 2006I'm certain that being certain should not be the top priority, for sure.
The guy who has Blackberry -- the company that took a gamble on patents and nearly went dark and off the air a year ago -- is full of talk to the gambling control board.
How can you have a slots parlor and have certain results? To gamble is to take risks. There is mystery and uncertainty when you drop the money and panic and are left with the cold-hard-results.
The value of being certain falls to an owner of a sports team with a deal on the table who doesn't even own the team yet. Everyone thinks he'll own the team. But, it didn't close yet.
Pens open to Plan B concept - Pittsburgh Tribune-Review 'Our plan is the only plan that brings certainty to this entire process,' McMackin said. 'There's clear-cut certainty the Penguins will stay in Pittsburgh. Under the concept of the other plan there is nothing but uncertainty.'Sports is about living in the present and not knowing what's going to happen, especially when played on ice with a little rubber puck at the center of attention.
Under the backup plan, Forest City or Majestic Star would pay $7.5 million a year for 30 years, while the state would pay $7 million a year. The Pens would have to pay $8.5 million up front and $2.9 million a year, while forgoing $1.1 million a year in naming rights.
Balsillie said Isle of Capri's proposal is the best plan because it removes any doubt about the team's future and doesn't use 'taxpayers' money.'
'I see a three-for-one here,' Balsillie said, adding that Isle of Capri's proposal provides a sports and entertainment destination, economic revitalization in the neighborhood and a gambling facility.
'The promise of being a good neighbor isn't just a promise,' Balsillie said. 'It has to be fulfilled.'
Balsillie said he hopes to conclude his purchase of the Penguins by the end of the week.
I'm certain that taxpayer money is going to go into this new arena. For starters, the new arena is going to be built and then given to the public to operate. If they want to build a new arena -- do so and keep it.
I'm certain that the public will pay dearly for the new arena as their plans call for the take down of the old arena. When 1 + 1 = 2 we'll have a net gain. But, we're getting 1 - 1 = 0. We own the civic arena. We have it paid for now. We don't need luxery boxes for Disney on Ice nor a high school graduation.
I'm certain that we'll not have a civic venue with the new arena with low-rental costs, like we can manage wit the existing facility that will be torn down, according to their plan. We've got a historic structure that is authentic -- for sure -- for certain.
So much for a sure bet. The guarantee seems to be a broken heart and upside down priorities.
Posts
1 comment:
Pens open to Plan B concept
By Brad Bumsted and Andrew Conte
TRIBUNE-REVIEW
Wednesday, December 13, 2006
No matter who wins the city's slots license, the Penguins are committed to staying in Pittsburgh - provided there's a workable arena plan, new owner Jim Balsillie told the state Gaming Control Board on Wednesday.
He testified on behalf of the team's gambling partner, Isle of Capri Casinos, which has agreed to pay $290 million for an arena if it wins the license for an Uptown slots parlor. That plan provides "ironclad certainty" that an arena would be built and that the Pens will stay, Balsillie said.
But if either of two other bidders wins the license, he said, the team would pursue a backup plan that currently requires the Penguins to help pay for an arena. That proposal -- often called Plan B -- remains just "a concept," Balsillie said.
The gambling regulators plan to vote Wednesday on awarding the $50 million casino license for Pittsburgh.
"If Isle of Capri is not awarded a license, then we'll pursue Plan B with all the political decision-makers," Balsillie said.
Pittsburgh Mayor Luke Ravenstahl, who has said he favors Isle of Capri, said the city and Allegheny County would be ready to negotiate a backup plan as soon as the vote takes place.
"I'm confident we will reach a deal if we need to do so," Ravenstahl said.
Allegheny County Chief Executive Dan Onorato said the county and city are in a "very good position" to keep the Penguins.
"Whatever the outcome is, we're going to make this work," Onorato said.
Penguins fans gathering outside Mellon Arena before last night's Flyers game said they couldn't care less who wins the slots license.
"I don't care if we have slots or not, as long as they keep my team," said Daniele Chahoy, 20, of Penn Hills.
"I'm very happy to hear (Balsillie) is committed to keeping them here," said Erin Kelly, 39, of Swissvale. "If we lose the team, we're just going to spend a lot of money to get it back. This way, everyone's happy."
Gambling board member Mary Colins asked Balsillie directly whether he would keep the Penguins in Pittsburgh if Isle of Capri doesn't win the license.
"The commitment is there on the presumption you can come through with a viable (arena) plan agreement, yes," Balsillie said.
Board member Kenneth McCabe rephrased the question, asking whether the Pens would stay as long as there is a new arena.
"If there's a new arena under an economically viable framework, absolutely, yes," Balsillie said.
But Balsillie told the board that under Isle of Capri's proposal, "The team is there for sure. The arena is built, for sure."
Isle of Capri is competing with Forest City's proposal for a Harrah's Station Square Casino and Majestic Star Casino's proposed North Shore slots parlor.
Balsillie was "being open and honest" when he spoke to the board, said Isle of Capri spokesman Les McMackin.
"Our plan is the only plan that brings certainty to this entire process," McMackin said. "There's clear-cut certainty the Penguins will stay in Pittsburgh. Under the concept of the other plan there is nothing but uncertainty."
Under the backup plan, Forest City or Majestic Star would pay $7.5 million a year for 30 years, while the state would pay $7 million a year. The Pens would have to pay $8.5 million up front and $2.9 million a year, while forgoing $1.1 million a year in naming rights.
Balsillie said Isle of Capri's proposal is the best plan because it removes any doubt about the team's future and doesn't use "taxpayers' money."
"I see a three-for-one here," Balsillie said, adding that Isle of Capri's proposal provides a sports and entertainment destination, economic revitalization in the neighborhood and a gambling facility.
"The promise of being a good neighbor isn't just a promise," Balsillie said. "It has to be fulfilled."
Balsillie said he hopes to conclude his purchase of the Penguins by the end of the week.
The hearing in Harrisburg yesterday was a continuation of Isle of Capri's hearing on Nov. 20. It was reconvened because Balsillie left before board members had a chance to question him that day.
Separately yesterday, McCabe, of Cranberry, Butler County, was reappointed to a two-year term on the board by the Senate's new GOP leader, Joe Scarnati, of Jefferson County. McCabe is a former special agent in charge of the FBI's Pittsburgh field office.
McCabe's experience "lends itself to managing a board that is free of corruption and favoritism," Scarnati said.
Brad Bumsted and Andrew Conte can be reached at bbumsted@tribweb.com or (717) 787-1405.
Post a Comment