Wednesday, April 05, 2017

Look Who Caught Up

  • The 10,000-seat, $164 million basketball arena for DePaul University that will double as an “event center” for McCormick Place will open this fall with a pair of gala fundraisers, officials said Monday.
And how well will the arena do?
  • Even if the 50-booking benchmark is reached, Chicago-based sports business consultant Marc Ganis predicted that most of the events would be “economically meaningless, both to the facility and to Chicago taxpayers.”

    “I fully expect they will do whatever they can in the first few years to try and gin up a positive spin because this was such a foolhardy project in the first place,” said Ganis, who has opposed the project from the get-go.

    “It was a ridiculous use of limited public money at a time when we’re raising taxes to unprecedented levels and still see no light at the end of the tunnel. Every now and then, governments decide to build vanity projects. That’s what this is.”
At 50 shows a year, it's assumed the stadium will break even....and that hasn't been reached yet - not by a long shot.
  • The studies assumed that attendance for DePaul basketball games that drew roughly 3,200 fans to All-State Arena would triple at the new venue.
Triple attendance for a team that hasn't made a tournament in how many years? Rahm pissed away tens of millions on a stadium that won't generate a dime. And if it ever actually turns a profit, they'll find something that got screwed up during the initial building process and piss that money away, too.

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42 Comments:

Anonymous Anonymous said...

Corrupt Democrat Chicago payoff to DePaul grads..Big money givers ..LOL Chicago is Broke ...Yet .Rahmacide just spends even more money to dump problems on the next fool in 2019

4/05/2017 12:24:00 AM  
Anonymous Anonymous said...

It'll be host to gang parties and drive-by shootings. They'll give the joint away for any amount of cash. Nightmare like the old Shrine on Wabash was.

4/05/2017 12:50:00 AM  
Anonymous Anonymous said...

That reminds me of the 600 Million Dollar Mistake on the lake (Soldier Field) if the Bears had a indoor Stadium built it would of been competition to the owners of the United Center,Daley made sure that didn't happen and the Gold Coast pay off was made.

4/05/2017 12:57:00 AM  
Anonymous Anonymous said...

The cost for this stadium and the
"new" Malcolm X "college" would have
made our pension whole.

THIS is Rahm's "We're gonna stick
it in the Cops ear."

Bastard.



4/05/2017 01:12:00 AM  
Anonymous Anonymous said...

"Limited public money"

Lol. They don't think public money is limited. Need more ? Just raise taxes add fees. SMH

4/05/2017 01:15:00 AM  
Blogger Leonard Hamilton said...

For all you kids out there, the movie Goodfellas is a very good reference here. Ray Liotta's character says they would laugh at the suckers getting up to work every day. And then later in the movie, as the mob burned down someone's restaurant, the motto was "fuck you, pay me". That fits the Irish Mob's narrative here. Walsh, Pepper, and Kenny construction have made billions with a fucking capital B off of Chicago and their pork projects. You would think within that industry alone the money would be passed around. No. I see trucks from Wisconsin, Indiana other states on job sites. Then of course there is the Chicago tax on any project. How much is the campaign donation to Rahm? How many of his friends or friends of friends get a taste? But see, this is legal and many of you fell for it. Each and every time. The alderman do not give a shit. All they do is pass red light ordinances or keep a eye on liquor stores, you know, petty cash Another wasted opportunity. The Blackhawks training facility I can see but a new stadium for DePaul? Geezus, wtf.

4/05/2017 02:26:00 AM  
Blogger Leonard Hamilton said...

That reminds me of the 600 Million Dollar Mistake on the lake (Soldier Field) if the Bears had a indoor Stadium built it would of been competition to the owners of the United Center,Daley made sure that didn't happen and the Gold Coast pay off was made.

At the time that would have been the most expensive NEW domed stadium ever constructed. Chicago would have had a Super Bowl, Final Four(s) and other events. You would have to ask Daley and the other 50 stooges why this did not happen. I am sure after getting their taste as usual, no one gave a fuck about the future.

4/05/2017 05:19:00 AM  
Anonymous Anonymous said...

It will be done just in time for when the casino bill passes. What a coincidence! I wonder what will happen then.

4/05/2017 06:25:00 AM  
Anonymous Anonymous said...

Once again I will say it. The city is not broke! Always has money for their pet projects! Where oh where is the BGA and media? Not one investigative story on our pension fraud and scam by Rham and the democrooks! So just like 2:26am comment to Rham fuck you pay me, also give me back my health insurance!

4/05/2017 06:48:00 AM  
Anonymous Anonymous said...

The obsolete Malcolm X College building that was replaced was about forty years old. It won architectural awards when it opened. Explain to me how a public facility with a full maintenance staff deteriorates and becomes obsolete that quickly? City Hall is 110 years old and it is still in use.

The new Malcolm X College design omitted offices for the faculty. The City Colleges had to purchase cubicles to provide the instructors somewhere to sit. It is like the movie "Office Space."

4/05/2017 06:55:00 AM  
Anonymous Anonymous said...

..maybe .just maybe........if they planted more trees and installed flowers around the place.... the attendence would sky rocket, .....sure that's the ticket !

4/05/2017 07:20:00 AM  
Anonymous Anonymous said...

Didn't rahm just recently borrow another Billion dollars? For what? Who is going to pay that back? So much for the checks and balances of our FREE and democratic society! Our only hope to end this plague is a meteor or a misguided North Korean ICBM! ;)

4/05/2017 07:35:00 AM  
Blogger The Keesing Bandit said...

The more money they spend there, the less they spend in my pretty neighborhood. I am having a fit at this very moment.

Now, kees me you fool!!!!

4/05/2017 08:37:00 AM  
Anonymous Anonymous said...

Basketball, etc. has nothing to do with why it was built. It's going to be the large-event venue for the casino that's planned nearby.

4/05/2017 08:44:00 AM  
Anonymous Anonymous said...

Oh it won't go to waste, the liberal democrats will hold political rallies in it and tell everyone how great they are. Of course, the building will be full of welfare recipients and other non tax paying citizens because the rally will be held during working hours. But there will be lots of applause to make the libs feel good about themselves and make them believe they are the majority.
And working people will drive by day after day, month after month, year after year, wondering what that building looks like inside? And wondering how they're going to pay that additional tax the city just passed.

J.J.

4/05/2017 08:47:00 AM  
Anonymous Anonymous said...

It will become chicago's first casino.

4/05/2017 09:05:00 AM  
Anonymous Anonymous said...

That then you see this months ago under barry obama and that crew:

Wiped Out': Air Force losing pilots and planes to cuts, scrounging for spare parts

http://www.foxnews.com/politics/2016/05/14/wiped-out-air-force-losing-pilots-and-planes-to-cuts-scrounging-for-spare-parts.html

then this today headline:
Military F-16 jet crashes after taking off from Joint Base Andrews, pilot ejected

http://www.foxnews.com/us/2017/04/05/military-jet-crashes-after-taking-off-from-joint-base-andrews-report.html

Guess barry was doing like rahm is currently doing throwing taxpayers money into entitlements and protecting illegal aliens,pandering to the felons and the criminals as the "law and order" police and military are decimated!

Another reason President Trump win big, he will rebuild military and rebuild policing (federalize CPD first example).

4/05/2017 09:33:00 AM  
Anonymous Anonymous said...

6000 more fans per game are going to come out and see this?

DePaul Basketball from 2003-Present

Big East Conference (2005–2013)
Year Head Coach Overall Conference, Place
2005–06 Jerry Wainwright 12–15 5–11 13th
2006–07 Jerry Wainwright 20–14 9–7 8th (NIT Quarterfinals)
2007–08 Jerry Wainwright 11–19 6–12 13th
2008–09 Jerry Wainwright 9–24 0–18 16th
2009–10 Jerry Wainwright/ 9-23 1-17 14th
Tracy Webster
------------------------------
61-95 21-65

2010–11 Oliver Purnell 7–24 1–17 16th
2011–12 Oliver Purnell 12–19 3–15 16th
2012–13 Oliver Purnell 11–21 2–16 15th
Big East Conference (2013–present)
2013–14 Oliver Purnell 12–21 3–15 10th
2014–15 Oliver Purnell 12–20 6–12 T–7th
-------------------------------
54-105 15-75

2015–16 Dave Leitao 9–22 3–15 9th
2015–17 Dave Leitao 9–23 2–16 9th
-------------------------------
18-45 5-31

4/05/2017 09:56:00 AM  
Anonymous Anonymous said...

Anonymous said...
That reminds me of the 600 Million Dollar Mistake on the lake (Soldier Field) if the Bears had a indoor Stadium built it would of been competition to the owners of the United Center,Daley made sure that didn't happen and the Gold Coast pay off was made.

4/05/2017 12:57:00 AM


2003 Soldier Field renovation payments by Chicago set to balloon to $$ 30 MILLION per year .Hey Rahmy you got the MONEY ?... Crook Chicago .Crook County ,IL in action at fool taxpayer expense
Another Richie Daley screw up

4/05/2017 10:04:00 AM  
Anonymous Anonymous said...

@Leonard Hamilton; you forgot the Bulls practice facility that Jerry wanted a tax break for building and sold the naming rights to a health insurance company, The money changers are all looking for the poor sap to help them build their empire, whether it be the taxpayer, the sick or the working man looking for a "guaranteed rate mortgage",the stadium built by the Illinois sports authority that receives no seat revenue unless the win less white sux exceed 1.93 million paid ticket sales. The Tribune article May 23 2016 Tax Dollars Still Paying Off Renovations on White Sox Stadium detail how the taxpayer continues to subsidize the White Sux to the tune of hundreds of millions for the reno' and to a lesser extent the outside bar and grill that Jerry keeps all the profits from while kicking in 13 pct to cost of building.

On top of it they are paying an illegal cuban $68 million to play mediocre baseball
the same one who testified in federal court about chewing up a false passport.

And what does Bruce Rauner say ? Nothing he eats at the same table.

4/05/2017 10:32:00 AM  
Anonymous Anonymous said...

This place is a crock of shit. I went to DePaul. I went to some of the games as a student...in fucking Rosemont. Was shit then and is even more shit now. You're telling me that they can't build a stadium ON FUCKING CAMPUS? Over $25k a year to go to this school. And they neede tax payer money to build? Fuck you. Oh wait, those shitty northsiders don't want the extra traffic, noise, etc. So let's build a fuckin stadium in the middle of nowhere. Great. How are students even going to get there? There's no walking path there. Only shitty, piss-covered buses dropping people off and then most likely not picking people up when they are scheduled to. The Women's team plays on campus and they actually win. Go figure. God this city sucks. Also, the men's team are a bunch of pussies. I remember when it was actually fun to watch, maybe 20 years ago.

4/05/2017 10:35:00 AM  
Anonymous Anonymous said...

They "assume" attendance will triple. As the saying goes" Assumption is the mother of all Fuck Ups" !

4/05/2017 11:18:00 AM  
Anonymous Anonymous said...

I believe Clark Construction out of Maryland was the contractor for this arena. Kenny, Walsh, and Pepper got beat by an outsider in their own home town, just like DePaul is going to get beat here by visitors in years to come.

Among the fifty events, they list six to eight women's basketball games. Good luck with getting fans to pay to see that. The rent is $15000 for each women's game. If they are run at an economic loss, DePaul will return those games to campus.

We will see how it plays out.

4/05/2017 11:21:00 AM  
Anonymous Anonymous said...

The Bulls could funnel their free-for-all charity MackDonalds events there, sparing the UC from community destruction.
Poor management and planning, by politicians. Everyone got paid on that project except the taxpayer.

Solution - they could rename the venue The Colosseum.
Add few hungry lions, some so-called street toughs and the stands will be filled every night with a 2 year wait list.
It would put Hamilton to shame and might even spark a Ringling Bros, Barnum & Bailey Revival.

Rahm hasn't even tapped the city's till for obama liberry yet, bet your ass that's coming up short funded.
Of course, he also has our money wagering on that $30 a ride Ohare CTA Blue Line Express.

Let's hope the Federal Infrastructure money spigot gets turned off for ChiTroitimore.

4/05/2017 11:40:00 AM  
Anonymous Anonymous said...

A broke Chicago wastes money on a new arena for DePaul.
A broke Detroit wastes money on a new arena for the Red Wings.
Coincidence?

4/05/2017 11:42:00 AM  
Blogger Rich Rostrom said...

I have a friend who is a De Paul alum. When he heard about this boondoggle, he swore he would never give De Paul another penny.

$173M for a stadium for a team that hasn't had a winning season in 10 years? (100-196 across that period.) They expect big attendance at a facility that is seven miles from the campus, three miles from downtown, in a grungy neighborhood?

Government buys a lot of worthwhile stuff - but sometimes they just throw money away.

Just a Civilian (who notices how easy it is to squander other peoples' money)

4/05/2017 12:01:00 PM  
Anonymous Anonymous said...

Just look at who is on the board for DePaul-- some guy named Hynes

4/05/2017 01:18:00 PM  
Anonymous Anonymous said...

DePaul students do not have any interest in the basketball team. That big stadium is going to be at 25% attendance for most games for the foreseeable future. As trump would say, sad.

4/05/2017 01:59:00 PM  
Anonymous Anonymous said...

Anonymous Anonymous said...

"Limited public money"

Lol. They don't think public money is limited. Need more ? Just raise taxes add fees. SMH

4/05/2017 01:15:00 AM

Write more tickets, make more meaningless arrests for more and more menial "crimes" assigning them more and more punitive amounts as "punishment". Raise court costs some more, and of course raise ticket fines as well. Oh, ya need a few more laws to allow for more tickets and more arrests? OK, legislatures and Boards will be happy to issue some more decrees that nobody ever knows even happens, much less that more things are now against the law. Heck, next thing you know, a license plate light being out is going to see a car impounded, sold at auction of course, and a 5 thousand dollar penalty applied as a fine - oh and another 5 grand for court costs too!

I find that comment so ironic, to be made here. So many cops act like this stuff is aside from policing, when policing is right there in the middle of all of it. How do you think the politicians BORROW money? What is it you think they LEVERAGE as collateral? Yeah, let me know when you figure out that not only do they spend every dime you "generate" in terms of tickets and arrests, but they borrow against what you are projected to do "next year" too. And THAT is why you "staying fetal" has them so freaked out! It ain't about "crime rates", it is about their actuaries and spreadsheets year over year...and their ability to play 'build this facility to make the other unions happy" and "launder some more money"!

Pssssst - such buildings are supposed to be PRIVATE SECTOR endeavors, not GOVERNMENT and certainly not TAXPAYER MONEY ventures!

4/05/2017 02:02:00 PM  
Anonymous Anonymous said...

Speaking of waste, Who's idea are these curb extensions at intersections. They should work out well for damaging vehicles and snow plows. Cuts out the right hand turn lane and increases traffic congestion.
Seriously who thinks this cr-p up?

4/05/2017 02:19:00 PM  
Anonymous Anonymous said...

(OT) looks like ballerinas feelings are hurt again:

Emanuel defends Chicago schools after Trump criticism

Best except:
Emanuel said he would mail the reports to the president and Education Secretary Betsy DeVos to show them the truth.

(The truth come on rahm you have no idea how to be truthful,maybe when the Feds finally come in you can tell them how you lie and violate federal immigration laws)
http://www.chicagotribune.com/news/local/politics/ct-rahm-emanuel-donald-trump-chicago-schools-met-20170405-story.html

4/05/2017 02:29:00 PM  
Anonymous Anonymous said...

That much fucking money for that lame ass yuppy school? Too bad they cant lose their shirt like a regular business owner putting his own money up for that shit.

4/05/2017 02:52:00 PM  
Anonymous Anonymous said...

Maybe they can move all of thug championships (I mean public league basketball games) there instead if the u.c. Nothing but gang fights and the associated robberies that follow. But, yeah a lot of that also stems from the "mixed income development" nearby as well. Maybe ald. arena can put the proposed development near the new stadium so u can double down on the disaster.

4/05/2017 03:15:00 PM  
Anonymous Anonymous said...

Not a penny for your pension.no healthcare for you old timers. Yet , all this 💰For vanity projects. Cook county has be vane for more than 50 years. These pols are pissers. They will piss away all the 💰

4/05/2017 04:10:00 PM  
Anonymous Anonymous said...

(OT) and over here look who got caught how is this for a headline First on CNN:

Secret Service agent on VP's detail caught after meeting with prostitute at Maryland hotel

http://www.cnn.com/2017/04/05/politics/secret-service-agent-prostitute-maryland-hotel/index.html?adkey=bn

First it was Obama's crew Secret Service agents court would prostitutes out of the country and now we have this idiot but then again with the dishonest media going after everything that is law and order related could be just a creation in the minds of The media.

4/05/2017 07:17:00 PM  
Anonymous Anonymous said...

Someone mentioned the BGA. Phony ass rahm ass kisser sycophant andy Shaw's son in law is Chris Hayes from MSNBC. Their son andy Shaw's grandsons middle name is Emanuel. Shaw's daughter got her job as a White House staffer when Rahm was chief of staff. Enough said????

4/05/2017 07:25:00 PM  
Anonymous Anonymous said...

Do your self a favor stay out of Chicago. ♠

4/05/2017 08:41:00 PM  
Anonymous Anonymous said...

This was a heavy handed boondoggle by Tiny Dancer.
Remember he claims he can't afford to fund our pensions or subsidize retirees healthcare.

4/05/2017 08:50:00 PM  
Anonymous Anonymous said...

Anonymous Anonymous said...
A broke Chicago wastes money on a new arena for DePaul.
A broke Detroit wastes money on a new arena for the Red Wings.
Coincidence?


The difference with Detroit is that the Red Wings sell out. Their fan base is from the suburbs and they actually create tax revenue for the city. DePaul can't even fill the lower bowl in Rosemont.

4/05/2017 11:51:00 PM  
Anonymous Anonymous said...

DePaul basketball has been in shambles for the last 20yrs. The students will not take the Redline to the south loop to see a basketball game and adults wont see them either because they suck and who wants to pay $30 to park. Total waste of money!!

4/06/2017 11:10:00 AM  
Anonymous Anonymous said...

Only one thing will fix DePaul men's basketball attendance woes, and it is NOT a new arena. It is winning.

Respectfully,

A DePaul Alum

4/06/2017 03:22:00 PM  
Anonymous Anonymous said...

I won't spend a dime in DePaul's Arena since they won't allow conservatives to speak on their campus. Every conservative voter living in Chicago should be outraged that their tax dollars were spent for this stadium.

4/09/2017 02:47:00 AM  

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