Pro-forma on Arena website numbers indicate that 28% of all events in Arena are Ice Hockey
In a shocking response to Ron Geary’s public statements that the negotiation with the City of Evansville are not going well, project manager John Kish has countered that the Arena doesn’t really need the Icemen or even hockey to do well and that the Arena will not be hurt if they do not reach an agreement.
A close examination of the pro-forma that is available to the public on the City of Evansville website promoting the new Arena the City County Observer discovered that 38 out of the projected 135 events for the Arena are actually semi-pro hockey games. That calculates to 28% of the total of the projected number of events and nearly $3 Million of the projected revenue. Links to the website and instructions to examine the pro-forma are below. The relevant information is on slide 10 of the presentation.
Click on Powerpoint link at the bottom of the following page
http://www.evansvillearenaproject.com/content/economic-impact
Unbe-Louisville Icemen
Hockey has the highest number of events 38, followed by UE basketball at 30 events.
I believe that is why the Evansville Loan Committee is meeting tomorrow. Looks like the EVV Icemen might just get the financial shot in the arm they need in order to sign a contract for arena use.
__
Kish’s statements will not make Old National Bank happy.
The arrogance of Kish to come out and say such a stupid remark clearly illustrates why this clown should be removed immediately.
The hotel mess, his secret suite signing and now the refusal to work with the largest tenant of the arena is proof he is here strictly as a political puppet.
Kish should should be removed as fast as possible. We,in Evansville,don’t want anybody that can’t see good in people and runs down our income and goodwell. He tells too many untrue statement.
~~~~~~~~~~~~~~~~~~~Translation~~~~~~~~~~~~~~~~~~
“KISH DOES NOT NEED EVANSVILLE ICEMEN TO PROSPER”
So… Is it true that building a hotel next to a stadium where the biggest events aren’t committed is very risky?
Are we finding out that more of the hotel financing difficulty falls squarely on Kish, than previously let on?
Ready, fire, aim… is too generous for this bunch. Are they also figuratively denying the target, while trying to get the target to play dead?
Don’t you find it funny that of the many hotel chains out there, none have even remotely considered this location? Maybe they don’t have confidence in the event schedule or the numbers just don’t work. If that hotel was a profitable venture don’t you think the good old boys would have pooled there resources and formed a corp and built it!
It’s the numbers…….a hotel that will be valued at $20M that is going to cost $40M to build? then the room rate with 60% occupancy (to get any ROI) is so high that the demographics can’t support it, it’s a no brainier why they have to look at off shore funding (EB-5), no one in their right mind would throw money in that hole and expect any return at all, if it is ever built it will be in default (foreclosure) in less the five years…..but they will get er done you can bet, and all of the fine citizens (taxpayers) of Evansville will be left holding the bag. As I’ve stated before if it was such a money making proposition ONB would have jumped at the chance to loan the money.
Is John Kish the project mananger of the new arena? Or is he lord and dictator of Evansville? If the Iceman management decide to not play at the new arena or look to another city, it will paint a horrible picture for any other sports franchise looking to locate here.
I would like to see the CEO of a corporation look the Board of Directors in the eye and say “We don’t need our largest client, who represents 28% of our revenue.”
“Mr. CEO, there’s the door!”
Geary is trying to shake the city down like he did the workers at Ellis a couple of years ago. The cooked stats aside, hardly anyone around here cares about hockey.
Comments are closed.