Potential new Arena for Quebec city?

Yesterday the mayor of Quebec city announced that the city has commissioned a study with respect to the feasibility of building a new arena. He said the city would put up about $50 M of an estimated $400M cost and would seek the rest from the federal and provincial gov'ts. The arena would obviously be owned... show more Yesterday the mayor of Quebec city announced that the city has commissioned a study with respect to the feasibility of building a new arena. He said the city would put up about $50 M of an estimated $400M cost and would seek the rest from the federal and provincial gov'ts. The arena would obviously be owned by the city and leased to any prospective tenants.

The question, what are your thoughts on having your tax dollars used to support a project like this? Be it in Quebec, Pittsburgh, Calgary or anywhere else for that matter?
Update: the tsn story

http://tsn.ca/nhl/story/?id=294991
Update 2: Devin, your taxes and mine paid for the last one. The Saddledome was built with public funds for about 100M.
Update 3: VIPhockey, initially I cringe at gov't funding of an arena but if the city could attract and support an NHL, not a given in my opinion, it might make economic sense for the gov't to pay to build it. If we assume an average payroll of 50M a year with roughly 60% of the teams games played in Canada and... show more VIPhockey, initially I cringe at gov't funding of an arena but if the city could attract and support an NHL, not a given in my opinion, it might make economic sense for the gov't to pay to build it.

If we assume an average payroll of 50M a year with roughly 60% of the teams games played in Canada and players salary taxed in canada at an avg tax rate near 45% that is 50 x 60%X45% or 13.5M in revenue on player salaries.

Value added tax of 13% on total revenue of the team represents another 10 M if revenues are 80M. The federal and provincial gov't would collect about 25M a year in direct tax revenue from another NHL team not to mention the other economic spin offs employee jobs created etc.
Update 4: LITY, I am one too and yes we like to whine. Now that the big O is paid for I don't need to smoke anymore. Until our cigarette taxes got that thing paid off I felt almost obliged to smoke. Good point the NHL may be creating a bunch of false hope. It is hard to see how Quebec can support a team with payrolls... show more LITY, I am one too and yes we like to whine. Now that the big O is paid for I don't need to smoke anymore. Until our cigarette taxes got that thing paid off I felt almost obliged to smoke. Good point the NHL may be creating a bunch of false hope. It is hard to see how Quebec can support a team with payrolls north of 50M when they couldn't do it at 20M
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