[Newsbot]

Title: Manitoba writes off Blue Bombers stadium loan
Category: Sports
Posted By: DrCaleb
Date: 2018-09-27 06:26:08
Canadian

[DrCaleb]

Capitalize profits, socialize costs.

[llama66]

DrCaleb DrCaleb:

Capitalize profits, socialize costs.

A key part of the keeping the rich, rich and the poor, poor plan.

[uwish]

I wouldn't call any CFL team rich, their salary caps are around 5.1 million, not per person, per TEAM.

[llama66]

uwish uwish:

I wouldn't call any CFL team rich, their salary caps are around 5.1 million, not per person, per TEAM.

Still rich enough to build a stadium.

[DrCaleb]

llama66 llama66:

uwish uwish:

I wouldn't call any CFL team rich, their salary caps are around 5.1 million, not per person, per TEAM.

Still rich enough to build have someone gift them a stadium.

FTFY.

[BartSimpson]

Another reason why I adamantly oppose government funding for these fucking sports teams.

[llama66]

BartSimpson BartSimpson:

Another reason why I adamantly oppose government funding for these fucking sports teams.

Me too. Billionaires bitching because building a new place to make them money is going to cost them money.

[BeaverFever]

All good points on this kind of topic generally, but in the case of this team, the Bombers are a nonprofit with no owner. And the stadium is jointly owned by the Bombers, the city of Winnipeg, the province of Manitoba, and the University of Manitoba. So I wonder if it isn’t a little self-dealing here both when the province issued the loans and when they wrote them off, given that the province is on both sides of the equation, and the other borrowing partners are entities that receive direct funding from the province. The whole arrangement seems a little incestuous.

[BartSimpson]

BeaverFever BeaverFever:

All good points on this kind of topic generally, but in the case of this team, the Bombers are a nonprofit with no owner. And the stadium is jointly owned by the Bombers, the city of Winnipeg, the province of Manitoba, and the University of Manitoba. So I wonder if it isn’t a little self-dealing here both when the province issued the loans and when they wrote them off, given that the province is on both sides of the equation, and the other borrowing partners are entities that receive direct funding from the province. The whole arrangement seems a little incestuous.

Most corruption is.

[bootlegga]

BeaverFever BeaverFever:

All good points on this kind of topic generally, but in the case of this team, the Bombers are a nonprofit with no owner. And the stadium is jointly owned by the Bombers, the city of Winnipeg, the province of Manitoba, and the University of Manitoba. So I wonder if it isn’t a little self-dealing here both when the province issued the loans and when they wrote them off, given that the province is on both sides of the equation, and the other borrowing partners are entities that receive direct funding from the province. The whole arrangement seems a little incestuous.

I could see a stink if the team was owned by a billionaire, but it's basically owned by the city as a non-profit.

Given the fact that the Bombers are a community-owned team, I don't see the difference between this and giving a city grants for other public infrastructure. While it's not an LRT line or highway, this stadium still increases quality of life for a lot of people in dreary Winnipeg (if not Manitoba).