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Manitoba writes off Blue Bombers stadium loan

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  • Manitoba writes off Blue Bombers stadium loan

    https://www.cbc.ca/news/canada/manit...loan-1.4839478

  • #2
    ...Halifax take note...

    Comment


    • #3
      Good on the province of MB.

      Comment


      • #4
        Good for the Bummers and their fans....Other tax payers not so much.

        Comment


        • #5
          No surprise here. I think this has been half set up for this since the get go.
          ZC gets another chance to feed cram sammiches!

          Comment


          • #6
            Next up:

            Manitoba writes off Bluebomber season!

            Comment


            • #7
              Originally posted by THE RULK View Post
              Next up:

              Manitoba writes off Bluebomber season!
              Right after the discount lunch game on Saturday.

              Comment


              • #8
                Honest question. What's the benefit to writing it ALL off now instead of allowing the Bombers to contribute what they can and slowly writing off whatever remains? What incentive is there for BBB to be profitable now?

                Comment


                • #9
                  Originally posted by Mallard View Post
                  No surprise here. I think this has been half set up for this since the get go.
                  NDP gave out the loans, PC's wrote them off

                  Comment


                  • #10
                    Originally posted by #1Fan View Post
                    Honest question. What's the benefit to writing it ALL off now instead of allowing the Bombers to contribute what they can and slowly writing off whatever remains? What incentive is there for BBB to be profitable now?
                    Accounting stuff. It is hard to carry a loan for a period of time without seeing a return. Auditors don't like it. MB deficit figure are due to come out and this will affect that.

                    Comment


                    • #11
                      jee I wonder if the govt will write off my loans?
                      Alberta boy, Rider fan

                      Comment


                      • #12
                        Originally posted by Smeelmyfuut View Post
                        jee I wonder if the govt will write off my loans?
                        When you are contributing millions of dollars to the economy I'm sure they will give it consideration!

                        Comment


                        • #13
                          Originally posted by #1Fan View Post
                          Honest question. What's the benefit to writing it ALL off now instead of allowing the Bombers to contribute what they can and slowly writing off whatever remains? What incentive is there for BBB to be profitable now?
                          I think this is a scheme to eventually sell the Bombers to a private owner, like David Asper who has always wanted to own the Bombers. The Bombers with an $82 million plus interest debt is not profitable. But when you write off that debt, the Bombers are all of a sudden profitable to a tune of $4-5 million per year. I think this is all part of a master plan for the Pallister Conservative government to help some of his buddies get richer. And maybe Palister benefits on the back end when he's out of office, just like Gary Filmon did with the sale of MTS.

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                          • #14
                            Originally posted by jollyrider View Post

                            Accounting stuff. It is hard to carry a loan for a period of time without seeing a return. Auditors don't like it. MB deficit figure are due to come out and this will affect that.
                            Except the Bombers were making all of their payments to the province. This doesn't make much sense.

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                            • #15
                              Originally posted by Todd Van A View Post

                              I think this is a scheme to eventually sell the Bombers to a private owner, like David Asper who has always wanted to own the Bombers. The Bombers with an $82 million plus interest debt is not profitable. But when you write off that debt, the Bombers are all of a sudden profitable to a tune of $4-5 million per year. I think this is all part of a master plan for the Pallister Conservative government to help some of his buddies get richer. And maybe Palister benefits on the back end when he's out of office, just like Gary Filmon did with the sale of MTS.
                              That was my thought as well. I could've sworn the True North Group had interest but I can't seem to find any info on that any longer. It could've just been a random post or two on the Bomber forum earlier this year now that I think about it.

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