The City of Toronto will take over interim management of the
debt-plagued Lakeshore Lions Arena while it seeks to find a new operator
for the four-pad rink that opened two years ago.
The facility, also known as the MasterCard Centre for Hockey
Excellence, carries a debt of $43.4 million. The city, which guaranteed
the loan, stepped in because the facility was in danger of defaulting.
And this part is the funniest part, if it didn't cost so much:
Deputy Mayor Doug Holyday predicted a rosy future for the facility.
“I think in the end it will still be there for the community, it
won’t be run by the city and it won’t cost the taxpayers any money,”
said Holyday, who plays recreational hockey there.
Does anyone smell the hypocrisy here, in regards to the recent cost cutting and layoffs?
Rob Ford's Gravy train amount: about $43.4 million