Reply to Wizards and Caps could be moving to Potomac Yard

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Reply to "Wizards and Caps could be moving to Potomac Yard"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Can someone please explain to me what's so bad and outdated about the current arena? [/quote]

Nothing. This was never about the arena itself. What Ted wants (and almost got) was the ability to get a cut of the money that Wiz & Caps fans spend at restaurants, bars, and other miscellaneous retail vendors before and after the game (which Ted would be able to get because these would be built within the PY development that Monumental would control). Effectively, this is about him internalizing the positive economic externalities that arena traffic generates for the surrounding community. So, a very healthy chunk of all the economic benefits that are trumpeted by Monumental's studies would have gone right into Ted's pocket.[/quote]

So, Ted wants someone else to pay for a new arena in PY, wants to take a cut of the action on the surrounding businesses, and otherwise wants to control the entire surrounding neighborhood.   I guess he must be a billionaire to be that arrogant.

[/quote]

Bingo![/quote]

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