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WINNIPEG TAXPAYER HIT FOR JETS' LOSSES
Published January 6, 1995
Manitoba Taxpayers will "shell out more than $2.6M to cover the Winnipeg Jets' losses for the first three months of the 94-95 season." If the NHL work stoppage continues, the price tag could climb as high as $10.4M for a "team that has not played a game all season." Under the current agreement, the city and Province of Manitoba must split team losses and pay the majority of owners a "small profit" until June '97 while proposals for a new arena are considered." The city and province own 36% of the team, and if they decide not to build a new arena and sell the team, the public's "share of the sale price would help defray any losses." The financial losses have increased "arguments of critics who say Winnipeg has spent too much on its team" (OTTAWA CITIZEN, 1/6). ARENA DOWN-TIME: Winnipeg Enterprises Corp. has estimated its loss from 20 cancelled Jets home games to be roughly $1M (Randy Turner, WINNIPEG FREE PRESS, 1/6).