Mayor Ford pushes another non Pinko priority: bailing out a bankrupt hockey arena

Bike lanes = bad
Low income housing = bad
Bailing out out a 45 million dollar hockey arena = what's the fucking problem?

In a hockey-mad city where battles over ice time make national headlines, a new four-pad arena with blue-chip tenants that include the Toronto Maple Leafs, the Marlies and the Hockey Hall of Fame has managed to run out of money, leaving Toronto taxpayers on the hook.

The Lakeshore Lions Arena opened its doors less than three years ago, a $43-million facility that attracted a corporate sponsorship – it’s also known as the Mastercard Centre of Hockey Excellence – and became the practice rink for both the Leafs and Marlies. It also houses the archives of the Hockey Hall of Fame and rents space to Hockey Canada and the NHL Alumni Association.

But $3.7-million in annual revenues isn’t enough to keep the lights on. Construction overruns, rising interest rates and a restaurant space that remains empty are all hurting the bottom line. The rink, built and operated by the local Lions Club, is on the brink of insolvency, and the City of Toronto, which backstopped more than $35.5-million in loans for the west-end complex, is planning a bailout.

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