Quote:
Originally Posted by BlueK
Energy Solutions Arena was not publicly financed. LHM paid for it. One reason it was done that way was to make it harder for a new owner to move the team. It's much easier to move a team if it isn't financially tied to the arena.
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LHM used RDA funds to help pay for the land. He didnt pay for it all himself. The building was privately financed through some of his own cash and then mostly loans (not uncommon).
I believe there were bonds involved because towards the late 90s, LHM had ot refinance and at the time, S&P gave the investment a really high rating for a sports team. Possibly the highest one of any sports refinancing.
I still think ESA does not fall under SU's model, though, since, again, bonds are financing, not subsidy.