Quite an Investment
Posted by Paul Chesser at 3:22 PM
In 1989 Toronto's SkyDome was built for $550 million (Canadian), at a cost to Ontario taxpayers of $300 million.
In 1999 SkyDome was purchased by private investors out of bankruptcy court for about $80 million.
Today the SkyDome's chief tenants, the Toronto Blue Jays, announced they were buying the stadium for $25 million. They paid their first baseman, Carlos Delgado, $23 million last season.
SkyDome's football tenant, the Toronto Argonauts of the Canadian Football League, are moving soon to a newly constructed, but much smaller, outdoor stadium.
How's that for economic development?
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