Neil, love the site & everything you do, it is extremely interesting to follow. The lease that Jim Balsillie signed with the City of Hamilton is a 20 year lease with 3 options each being 4 years, bring the total lease term potentially up to 32 years. Although it is not stated, it is assumed that the options are at the sole discretion of Balsillie. Also, the lease only becomes valid if he secures a team to play in 'The Hammer' by October 2010, although some in the media are reporting October 2009 which as we all know is not going to happen that quickly.

Thanks for the clarification. Did they agree to lease terms, though? I saw that a previous lease (for when Balsillie was trying to buy the Predators, I assume) would have had him paying $2m a year in rent for control of the entire arena, but that's if he was going to pay for all the upgrades.

I am shocked that the Libs and NDP are willing to spend PUBLIC money on Copps Coliseum, where are their principles? I thought they were against spending public money on sports facilities? I guess it has something to do with how pathetic Canadian teams have done in the Stanley Cup playoffs, since Montreal last won (Of course, adding more Canadian teams increases the odds that one will finally bring home the Cup to Canada, that could help explain the motivation).

Januuz,
I highly doubt that it has anything to do with the Stanley Cup playoffs, i hope that you are just using that to take a shot at Canadian Hockey teams and don't really believe that.

McGuinty is a sycophant. He jumps on things that he knows the public will love and attaches his name to it. He does not have a spine. Your surprised that he has flip flopped? McGuinty, Mr. "I wont rase your taxes", (he then raised taxes), has a history of saying one thing and doing another.

Im completely convinced that no matter what the issue, if most of Ontario thinks its a good idea, McGuinty will jump on it, regardless of his past statements and parties believes. He wants to be re elected so bad he does not care what it takes.

James, I was just adding a little humor to the Hamilton situation (I have a tremendous amount of respect for the History of Hockey including CANADIAN Dynasty's in Montreal and Edmonton. If ANYONE does not appreciate Canada's contribution to Hockey, then they are NOT Hockey fans).
I have read a whole lot about the situation on TSN, and the comments from fans about it, are borderline crazy. Including knocking Canadian Players who choose to live in the States after their careers are over, and accusing them not being "Real Canadians". And one person actually favoring Russian & European Players "Because They Go Back To Their Countries After Their Careers Are Over". Ignoring the fact, that many Canadians return to Canada (Including one man who may be their future PM (Ken Dryden)), and many Europeans stay in North America (Malkin comes to mind. He turned down $15m TAX-FREE to stay in Pittsburgh, do you really think he will ever go back to Russia, except to visit?).
Speaking of Pittsburgh, they may have the model that will bring a Cup back to Canada. They bring in guys who really want to live in the community (In addition to performing on the ice or field). This has happened with Lemieux and is happening with Rothlisberger, Crosby and Malkin. Draft and trade for guys from Quebec, Alberta, & Manitoba who have the love of Canada and the grit necessary to win.

Ya know, this all happened because Richard Burke (ex Coyotes owner) foolishly got a lease at US Airways Center without realizing the sightlines for hockey were dreadful, then Ellman and Moyes back a second arena in the market (where there is already a couple of retractable roofed stadia as well) and no one bothers to look and see if the fans are really demanding an NHL team or not. Then again, we wouldn't be having all this silliness if the Good Lord had put the city of Hamilton 81 km away from Toronto... (/sarcasm).

Can anyone tell me exactly how much money Ottawa and Toronto provide to the province and their cities (the economic impact) tax wise etc..Let's say the feds and the province provide $150 million to upgrade Copps (instead of spending twice that amount to build a whole new arena!)..if the team was successful in Hamilton, how much money would be paid back in tax alone. I just seen a book that states in Alberta players pay a NHL players tax of 12.5% which on a 40 mill payroll which would be 5 million a year. Also if the Coyotes are really losing 25-30 million per year, how could they ever make money?. If you added 4000 per game at an ave of $40 per game x41..that only equals $6.5 million...they would still lose 20 million or so...can't Bettman figure this out?..With Hamilton giving control of Copps, Hamilton Place and the Convention center...Hamilton will see a cost savings of 2 million per year running it which saves tax payers. With Basillie's connections as long as more private boxes are added they will be filled..it's a no-brainer..too bad Bettman can't do math.

...correction...the tax they collect would be on the games they played in Alberta..so more like 2.5 million each for Calgary & Edmonton

The NHL players tax is pretty much the entirety of the benefits to the province — just about all the other spending that would take place would be diverted from elsewhere in Ontario. (I suppose there would be some Sabres fans who would drive over for games in Hamilton, but that's a drop in the bucket.) You could actually make a better case for Hamilton to put city money in — since it could divert spending from the surrounding area to the city — than to use provincial or federal money.

In general, the rule for entertainment spending is that the larger the circle you draw, the more it's a zero-sum game.

Thanks for that. It is really hard to tell the true economic impact to Hamilton and a NHL team wouldn't have that much but it all depends on other things happening. If they get the Pan-Am games in 2015 Hamilton would be getting a new football stadium a few blocks north of where Copps is (by the west harbourfront which would be quite suprising to people outside of Hamilton who only think of steel companies. The stadium would be for the Ticats but would probably attract a soccer team as well. Even if it wasnt the Major soccer league maybe the one the Montreal Impact plays in..united something. Hamilton is also close to getting Light rail transit to run through the city and the Go station isn't too far from Copps as well. Mcmaster inovation park is also going to be finished next year just west of downtown and will be home to 100's of scientists and research and will end up having 3000 jobs there and 500 scientists at a research insitute beside Hamilton General. and I'm sure Basillie knows all this and his idea is one piece of the puzzle. The biggest employer in Hamilton is Health Care, not steel..it's slowy dying off.