SkyDome sold

[GregS]

Rogers has just bought the SkyDome for $25 million. Here's a quick rundown of it's history:

Completed in 1989: $600 million
Sold in 1994: $151 million
Sold in 1998: $80 million
Sold in 2004: $25 million

Any of our accountant members want to figure out (1) what rate of depreciation that is and (2) when TUC will be able to afford to buy it?

Let's think about it. TUC league games from Mon to Thu (rent it out for trade shows and concerts and papal appearances on weekends, TUC members get in to all events for half price), year round, at say 7:00, 8:30 and 10:00. I'd guess we can get 4 fields on there, that means it can host 12 games per night, 24 teams, four nights a week means 96 teams. Say there's 4 seasons (because, well, there are...) at $1000 team fee per season (there'll be a few years of inflation between now and then). That's about $400K per year just from team fees. Add in revenues from shows, hotel, restaurants, rent out the field for kids soccer, football, baseball in the afternoons, less operating costs. I'm thinking it would be worth it to TUC once the price hits about $3 mil, which I'm projecting will be in 2012.

Okay, I have too much time on my hands today.

[muskokajoe]

Hah! Made me chuckle - thanks, Greg.

[c5ho]

Woohoo! Only three more years to go!

[GregS]

I saw on the news (okay, the Daily Show...) that the Detroit Silverdome was just sold for a paltry $583,000. And it seats more than the "Rogers Centre". Maybe time for us to make an offer?

[Harder]

Also note that they Detroit Silverdome was bought for that low, low price by Canadians.

Hey, has there been a half-million dollar withdrawal from the TUC field fund recently?

Mathew