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The Sale of Nationwide Arena - News & Updates

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Started 2 years ago by Walker
Latest reply from -Nick-

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Walker
The KLD / Downtown
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OSU may take over management of Nationwide Arena
Thursday, April 29, 2010
BY ENCARNACION PYLE, AARON PORTZLINE AND ROBERT VITALE
THE COLUMBUS DISPATCH

Ohio State University and the Columbus Blue Jackets are close to a deal that would put OSU's Schottenstein Center and the privately owned Nationwide Arena under joint management. The agreement would be one piece - and a small one at that, sources told The Dispatch yesterday - of a larger plan to eliminate the hockey team's yearly deficit and ensure its future in Columbus.

Under an agreement that OSU and Blue Jackets officials said could be finalized within two weeks, the university would manage both arenas and handle bookings for concerts and other events. That would save at least $1 million annually for each side because of lower administrative costs and better leverage in booking.

READ MORE: http://www.dispatch.com/live/content/local_news/stories/2010/04/29/osu-may-take-over-management-of-nationwide-arena.html

Posted 2 years ago #
cc

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Sounds like a good start. I think that having two large arena's is fairly redundant in itself and something that was brought up when they were planning Nationwide Arena.

Posted 2 years ago #
Tenzo
Chicago Lakeshore
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Good, move the Columbus BJs to the Shott and put a casino in Nationwide.

Posted 2 years ago #
cc

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Tenzo wrote >>
Good, move the Columbus BJs to the Shott and put a casino in Nationwide.

+1 :)

Posted 2 years ago #
pilsner

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Or, move OSU basketball to Nationwide and put a casino in Value City Arena. At least a few college students would hit it big and graduate w/o student loans.

Posted 2 years ago #
groundrules

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I heard if this happens, Tressel is gonna is gonna coach the Jackets.

Posted 2 years ago #
GW_Justice
Grandview Hts.
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What, no teabaggers foaming at the mouth, calling this socialism?

Posted 2 years ago #
jackoh
The Village
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Now correct me if I am wrong (or way too conspiracy theory oriented in my thinking), but isn't OSU a state supported institution, i.e. funded with taxpayer dollars? So could this be a way of routing taxpayer money, through a very indirect and publically acceptable appearing manner, to help shore up the Blue Jackets?

Posted 2 years ago #
pilsner

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jackoh wrote >>
Now correct me if I am wrong (or way too conspiracy theory oriented in my thinking), but isn't OSU a state supported institution, i.e. funded with taxpayer dollars? So could this be a way of routing taxpayer money, through a very indirect and publically acceptable appearing manner, to help shore up the Blue Jackets?

Possibly, but I doubt it.

I think this is just a way for Nationwide and the Blue Jackets not to have to pay the management company to run the arena. And now the two arenas will be in collusion as to what artists/events go where.

If OSU money gets siphoned off to the Blue Jackets people will scream bloody murder.

Posted 2 years ago #
groundrules

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jackoh wrote >>
Now correct me if I am wrong (or way too conspiracy theory oriented in my thinking), but isn't OSU a state supported institution, i.e. funded with taxpayer dollars?

OSU is large enough that not everything comes out of one big pot of money. There is a ton of private money and self-supporting business endeavors that act independently from state funds.

Posted 2 years ago #
Likes Old Houses
Harrison West
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The Schott is managed by the OSU Athletics Department which is self funded, and separate from the rest of the publically funded college.

Posted 2 years ago #
jackoh
The Village
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To be clear, I wasn't seeing this in terms of taking money from OSU's budget, or having OSU support anything. I was seeing it more in terms of finding a route to send funds. Legislators and public officials do this all of the time. They have a project that they want funded, but know that if they announce it to the public there will be a call for their heads. So they simply find a way to disguise the funding by funneling it through some unconnected agency. Hell, they've even been known to use private entities for purposes like this!

Posted 2 years ago #
pilsner

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I'd rather politicians funnel money to the Blue Jackets through OSU rather than Franklin County or the city of Columbus.

But I don't think it will happen. There will be too much scrutiny as the Blue Jackets carry a high profile.

Posted 2 years ago #
shroud
Polaris
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As long as the costs for this are kept within the athletic department, I don't have a problem with it, since it is self-funded and they've got more than enough to go around.

I do worry about the competition factor - don't the two arenas already compete for bookings? So now they'll be effectively competing with themselves?

Posted 2 years ago #
davidjay
Eastmoor
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Just an FYI everyone.

The Schott is not managed by the athletics department and is completely self sufficient financially. No university funds are used to run the building.

Posted 2 years ago #
MFRONE
Lakewood
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shroud wrote >>
As long as the costs for this are kept within the athletic department, I don't have a problem with it, since it is self-funded and they've got more than enough to go around.
I do worry about the competition factor - don't the two arenas already compete for bookings? So now they'll be effectively competing with themselves?

What's their to worry about? Now that you have 2 venues under the same management company (much like it is in many cities with Live Nation and/or AEG) they won't have to pay a higher booking fee then the show is requesting.

Posted 2 years ago #
shroud
Polaris
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MFRONE wrote >>

shroud wrote >>
As long as the costs for this are kept within the athletic department, I don't have a problem with it, since it is self-funded and they've got more than enough to go around.
I do worry about the competition factor - don't the two arenas already compete for bookings? So now they'll be effectively competing with themselves?

What's their to worry about? Now that you have 2 venues under the same management company (much like it is in many cities with Live Nation and/or AEG) they won't have to pay a higher booking fee then the show is requesting.

Shows/events skipping town entirely because they don't want to deal with the one particular group & not having another option? Columbus gets skipped a lot already... I'd think less competition by default makes the market less competitive.

I suppose for the group doing the management it's not as big of a deal as I was thinking though... the management company gets the booking they want IN the building they want it in. And it does offer a little more flexibility to work around other commitments.

Posted 2 years ago #
martyhoman
Westgate
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this could end up blowing up in their face. they should have a new management team created and have them mange both, not one or the other running both. i think (hope) that once there is a new arena deal figured out that they will do that. hopefully this is just temporary.

Posted 2 years ago #
Snarf
Dystopia
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GW_Justice wrote >>
What, no teabaggers foaming at the mouth, calling this socialism?

Apparently only tired stereotyping. Better luck next time?

Posted 2 years ago #
BCNation
Franklin Park
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cc wrote >>

Tenzo wrote >>
Good, move the Columbus BJs to the Shott and put a casino in Nationwide.

+1 :)

Um, no....traffic is already that bad around the Ballpark.

Posted 2 years ago #