Monday, June 27, 2016

"Quebec Taxpayers Spent Hundreds Of Millions On An NHL-Ready Arena And Didn't Get An NHL Team"

The city and the province split the cost of the 18,259-seat arena, which came in at around $370 million (CAD). And then they turned the entire thing over to telecommunications giant Quebecor for $33 million, with the national assembly passing a controversial law to protect the arrangement from potential lawsuits. (Conflicts of interest abound: Qubecor’s controlling shareholder Pierre Karl Péladeau was the leader of the Parti Québécois from May 2015 until he resigned last month.)


Please note the confidentiality agreement; if opposition politicians had not announced these figures, citizens would have no idea how much money they’re still pumping into a largely empty arena.