Well, there needs to be talk before there's action. Duh.
Drew does have a point, though. Public funded arenas and stadiums are a borderline crime. The taxpayers fund the stadiums and contracting companies and the sports franchises that play there get rich off of it. Wherever this first happened, it started an ugly trend.
That said, does anyone regret building OPACY or M&T Bank Stadium? I disagree with Drew's sentiment that we'll NEVER get an NBA or NHL team. We won't as long as we don't have a new arena, that's for sure. And saying that a new arena would only host the same events the current arena does is shortsighted, pessimistic and incorrect. A bigger, newer arena will get you more events by default.
Here's OPACY and M&T Stadium funding breakdowns courtesy of http://www.bizjourna...rom-a-mix.html:
M&T Bank Stadium — $230 million
• $220 million in state revenue bonds
• $24 million in private funding
• $113.8 from Md. State Lottery and other Stadium Authority revenue
• $6.5M annual debt service on bonds
• $60,775,000 principal balance as of June 30, 2012
Oriole Park at Camden Yards — $215 million
• $92 million in state revenue bonds and $14 million in lottery receipts for construction
• 60 million in state revenue bonds and $40 million in lottery receipts for land purchase.
• $9 million from the Baltimore Orioles
• $6.5 million annual debt service on bonds
• $115.8 million* in principal balance as of June 30, 2012 (also includes new bonds issued for stadium improvements)
* Also includes new bond issues for stadium improvements.
Hopefully a new arena is funded similarly so the public isn't getting robbed.
It's also why the city was dumb not to jump on Hackerman's majority private-funded arena at the convention center.
I never had friends later on like the ones I had when I was twelve. Jesus, does anyone?