The Argue Endorser enforces their name sake, by ENDORSING a new Events Center

Original image Argus Leader (manipulated by South DaCola)

Trying to find a negative about a new events center, well you have to go to almost the end of the column to find this;

Rush also is skeptical that a new events center can operate at a profit. He said people in Sioux Falls should be prepared to pay an operating subsidy of between $1 million and $2 million a year.

“It’s an expensive investment,” he said. “If everyone is on board with that investment, then it would be great for the area.”

Huether disagrees. Sioux Falls expects to get $1 million to $2 million a year in naming rights. Tyson paid $5 million over 20 years. And unlike Sioux City, Sioux Falls has no plans to subsidize shows, which drives up the operating costs.

I don’t care if the place gets $200 million in naming rights a year, that is a subsidy, not a profit. A profit is when the facility generates enough revenue on it’s own to offset it’s expenses. And what if it does make money? Will that profit be put towards paying down the principal of the bond? And on top of all that, we have yet for a naming rights sponsor to step forward.

 



18 comments ↓

#1 Analog Tape on 10.23.11 at 11:01 pm

I learned only one thing from that article.. Allen Unruh is a lot dumber than I thought.

#2 l3wis on 10.24.11 at 5:41 am

This was a great letter to the editor;

http://www.argusleader.com/article/20111024/VOICES05/110240317/My-Voice-now-reasonable-time-build-an-events-center-?odyssey=mod|newswell|text|Home|s

#3 l3wis on 10.24.11 at 5:43 am

AT – You must be referring to Allen’s brilliant quote about it passing or not.

I still think it will be close and a record turnout. I also think that most people’s minds are made up and this last initial push by BIN is too little, too late.

#4 Tom H. on 10.24.11 at 10:33 am

“Sioux Falls expects to get $1 million to $2 million a year in naming rights. Tyson paid $5 million over 20 years.”

…which works out to $250K per year for Sioux City. Is it reasonable to EXPECT about a 5 to 10 times better yield for us? It might be nice to HOPE for that, but it is folly to plan on it.

#5 Dukembe on 10.24.11 at 11:10 am

What are the odds it will be called the Sanford Center?

#6 Cobra Commander on 10.24.11 at 12:27 pm

0.0

#7 l3wis on 10.24.11 at 12:33 pm

After our interview with Mike on Rant-A-Bit, I have suspected a big name sponsor(s) will be announced before the vote. I’m thinking we will hear something this week by Friday. Sanford has been tossed around.

#8 scott on 10.24.11 at 12:45 pm

i’d guess that there are enough people sick of everything in this town being named sanford that anouncing them as the sponsor before the vote would be a negative rather than a positive.

#9 Scott on 10.24.11 at 12:54 pm

I think the robocalls are a big mistake as nobody enjoys receiving them. You can’t claim to be a “grass roots” organization and then rely on old school political tactics. Oh wait, they have been since day one.

#10 Pathloss on 10.24.11 at 1:49 pm

If you’re not going to be here on November 8, last day to vote absentee. I just voted. Everyone announces loudly they voted NO. I’ve yet to encounter anyone in favor of this corrupt project.

#11 My_Mistake_Mike on 10.24.11 at 6:05 pm

From Ellis’ AL piece:

“”And unlike Sioux City, Sioux Falls has no plans to subsidize shows, which drives up the operating costs.”

Omaha does one better, they alieviate some of the risk by guaranteeing a promoter will sell X amount of tickets to a show.

Sounds like Sioux Falls is not only going to build (correction add on to) a sub-par facility, but they will also be at a competitive disadvantage to their peer cities. Now you know why Pheasants Forever or Lady Gaga will never, ever come here.

http://www.argusleader.com/comments/article/20111023/NEWS/110230314/Events-center-captures-interest-area-towns

#12 Analog Tape on 10.24.11 at 7:34 pm

Individuals are really getting creative about this!
Hope this works:
http://a5.sphotos.ak.fbcdn.net/hphotos-ak-snc7/297362_10150885075465147_609690146_21463200_927417601_n.jpg
Sign on Marion says “Build It yourself!”

#13 rufusx on 10.24.11 at 9:24 pm

AT – that’s a good one right there.

#14 l3wis on 10.24.11 at 9:54 pm

Pussy vandalism. I LOVE IT!

#15 Analog Tape on 10.24.11 at 10:42 pm

Here are some Pro EC signs. Do you think they will help?

“We don’t need no Stinkin Parking – Vote Yes”
“Trust Mayor Mike – He Loves you – Yes on the 8th”

“Don’t FORCE me to go to Omaha. Vote Yes and I Stay!”

“Councilman Entenman says Vote Ye$”

“Fun Now – Pay Later – Vote Yes”

#16 Detroit Lewis on 10.24.11 at 10:58 pm

‘What Recession?! Vote Yes!’

‘Save Mark Cotter’s job! Vote Yes!’

‘Mikey likes it! He likes it’

http://www.youtube.com/watch?v=vYEXzx-TINc

#17 My_Mistake_Mike on 10.25.11 at 11:52 am

“I can’t afford a Ferrari, but a new EC will get me by until then. Vote Yes”

#18 Scumbag Steve on 10.25.11 at 10:59 pm

Someone is vandalizing vaginas now? Just when I thought the arsonist burning up garges and autos was bad enough.