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DEAL FOR NEW ARENA IN WINNIPEG "RAZOR THIN"
Published March 6, 1995
An announcement last week by Finance Minister Eric Stefanson that the Manitoba Entertainment Complex "will have to pick up the Jets losses for the next two seasons if it wants C$10 million worth of support for a new arena, could raise the price of the entire deal to prohibitive levels," according to Saturday's WINNIPEG FREE PRESS. And, with the raising of the price, "chances of a successful deal" are now "razor thin." It is estimated that MEC needs around C$160M to build a new arena and buy out the majority owners of the Jets. However, "a requirement to take over the losses" would bring the price to "at least" C$195M. MEC spokesperson John Loewen declined to say whether they would would be willing to pick up the losses "as part of their business plan" (Stevens Wild, WINNIPEG FREE PRESS, 3/4).