Quote:
Originally Posted by Bambi
It's that much?
Does McFaddens send Sully a check for all the money they make off Big 12 fans?
If Mizzou plays in their own state, does anyone even notice?
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P+L issued 300M in general fund bonds (a good idea IMO) to build the district. That means any shortfall comes from the general fund. The Arena cost $275m or something and that was different: it comes from a dedicated source which was a hotel & car rental tax.....plus event ticket surcharges, sponsors (Sprint who paid $50m) and the operator AEG putting in equity.
Long story short, the P+L shortfalls are covered by taxpayers while the Arena is not. So The Big 12 Tourney brings in 10M/yr in sales or $600,000 in taxes. Helping pay $13,000,000 in P+L annual debt (5% of cost)