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BlackBerry Balsillie Coliseum?
RIM boss has Copps naming rights
June 04, 2009
Ken Peters
The Hamilton Spectator
http://www.thespec.com/News/Local/article/577234
If Jim Balsillie wants to rip the name 'Copps' from the front of Hamilton's Bay Street ice palace he has the power to do so.
Mayor Fred Eisenberger comfirmed yesterday that as part of Balsillie's lease pact for Copps Coliseum, the Waterloo billionaire owns the naming rights to the city-owned 24-year facility that honours former city mayor Victor K. Copps.
Eisenberger said the only proviso is that the Copps' name must be reflected somewhere inside the arena.
The mayor said a similar clause was in the 2007 Copps lease that was approved for Balsillie's unsuccessful bid to bring the Nashville Predators to the city.
"He could take the name 'Copps' off the front of the building," Eisenberger confirmed adding he had heard through media reports that Copps' daughter Sheila was not adverse to the move if it facilitated an NHL team locating there, fullfilling her father's dream to secure such a franchise for the city.
But there is also the possibility Balsillie could sell the naming rights to a sponsor, such as Labatt's Brewery, which has come on board as a corporate sponsor for Balsillie's NHL bid.
But Eisenberger said he would hope Balsillie would involve the community in a consultative process before settling on a new name for the facility.
Balsillie confirmed in his application to relocate the Phoenix Coyotes to Hamilton that he indeed owned the naming rights to the complex.
And in a series of artist drawings completed to show the arena in the wake of a proposed $150-million renovation, the Copps name is nowhere to be found.
Basillie spokesman Bill Walker said yesterday his client has given no consideration at this point to selling the naming rights of Copps Coliseum.
A Phoenix bankruptcy court will convene Tuesday to determine whether the bankrupt Coyotes' franchise can indeed be relocated to Hamilton. The NHL is fighting the possible releocation.
So, are we ready to see Jim for what he is yet? Not a bad thing but he is an opportunistic businessman who sees the potential for profit in a sports ownership.
Renovate your building for $150million....I will contribute $30 million....the taxpayer contributes $120 million....you own the arena (ie. if it loses money too bad that's your problem).....I get a management contract that pays me to run it and allows me to book other acts and if I can make it turn a profit we share in the profit....oh, yeah, since I am taking all the "risk" I get the naming rights....which I will turn around and sell for, conservatively, $10 million a year over 10 years....oops, I just made $70 million day one......nice!!!!!
This is precisely the sort of deal that MLSE did with the city of Toronto at BMO Field (which was not "BMO" Field until after the deal) and yet they were described as corportate welfare bums that were profiting off the back of taxpayer (paraphrasing the Star and other media outlets there) yet JB is seen as some saviour of the national sporting identity.....mmmm interesting indeed.
I am not anti JB nor particurlary anti NHL in Hamilton...just fascinated how he is treated in the media and in public discussions relative to the folks at MLSE.