Ottawa out of money?

Of course the Toronto Media has started a story (Toronto Sun Frank Zicarelli) that the Ottawa group has already spent all their cash they had set aside for operating Capital. Does anyone know if this is true

Doubt it very much, especially for a group that hadn't planned on selling 15,000+ seasons tickets. Have heard it nowhere else.

He says that Ottawa has used all it's capital. Don't know what that means exactly.

[url=http://www.torontosun.com/2014/05/26/argos-have-most-to-lose-to-potential-labour-disruption]http://www.torontosun.com/2014/05/26/ar ... disruption[/url]

Probably just that they're over budget. Doesn't mean they're actually out of money.

I love random references to "those in the know". :roll:

I am quite sure that OSEG is out of money, the OHL 67s completd their season and the Fury NASL soccer club are up and running.

.........and they haven't received rent yet from all the businesses around the stadium, no cash yet from the condos that are still under construction. No cash yet from individual games tickets, they go on sale next week.

Just got this yesterday from the OSEG

Dear REDBLACKS fan:

One of the great things about being a ticket holder is that you have an advance opportunity to take advantage of offers from all three of our OSEG Sports teams. This one is the "I'm Going" pack for the historic opening weekend at TD Place.

The Ottawa REDBLACKS will christen TD Place, our beautiful new downtown stadium, on Friday July 18th and then on Sunday the 20th, Ottawa Fury FC will host the legendary New York Cosmos in the first ever soccer match at TD Place. It's a once-in-a-lifetime Ottawa sports weekend and we've come up with a ticket package for casual fans to be with us to witness history unfold. We call it the "I'm Going" package and it goes on sale soon. It's the only way for casual fans to share the moment with the rest of us.

You have a head start to purchase an I'm Going package for a friend(s) as of now. Follow these instructions to take advantage of the opportunity:

  1.  Visit <!-- m -->http://www.capitaltickets.ca/oseg-promo<!-- m --> 
    
  2.  Enter Promo Code - IMGOINGREDBLACKS
    
  3.  Click I'm Going Ticket Package
    
  4.  Select Seating Location(s) for both the REDBLACKS and Fury Home Openers
    
  5.  Follow Prompts
    
  6.  Log in using your Ticket Account Number (found on your invoice) and your previously created password
    
  7.  Click 'Forgot Password?' if needed
    
8) Follow prompts to complete sale

If you experience difficulties logging into your online account, please contact a Sales Representative at 613-232-6767 x1.

Fewer than 4,000 tickets remain for REDBLACKS opening night. We fully expect that number will quickly be reduced to 0 with the I'm Going pack. So if you know someone who wants to go, now is the time to help make it happen for them.

Did you mean to say that they are NOT out of money? Otherwise I don't see how the first part of your comment is supported by the second.

Look, one of these guys ponied up something like 2.5 million to start the Carleton Ravens football program going again. Surely he's not cashing in hugely from that. For the first time in my lifetime, the ownership's financial standing is the least of my concerns.

Also, if this thing had any legs beyond being a rumour, it would probably warrant more than a one-liner in an unrelated article.

Yes sorry it was a typo they are not out of money

This is the first I here of that. I know part of the group that owns OSEG are listed as billionaires not millionaires. I'd like to see the report your talking about.

It was an article in the Toronto Sun. These guys who are the partner group of OSEG are loaded as you said so some idiot just blowing smoke. Sounds like a Rogers planted story to me.
Rogers is just looking for any reason to downplay the CFL to avoid looking like bad guys for voting against MLSE buying the Argos.
So stubborn Rogers is. Still sticking to its anti CFL stance especially in Toronto where it is another summer sport that the Jays have to contend with.
An MLSE Argo owned team is a low risk high reward buy IMHO. placing the Argos in the MLSE synergy machine is a no brainer. a Second full time tennant in which they own for BMO and adding Argo Merchandise to the MLSE store as well as Marketing them with the rest of the stable of teams will cost them nothing

I'm not sure what good placing the Argos in one of these would do....

http://www.resale.de/images/3030048_a_83401.jpg

Lol... :lol:

Yeah, Jeff Hunt runs the entire operation from a cash box he keeps under his bed.

Out of money :lol:

The owners undoubtedly have deep pockets, but as with any sports team there can be a difference between how much owners have can differ from how much they put in the team.

NOT suggesting there are problems, just pointing out that the two can be different.

Huh??

I think he means that having money doesn't mean you're willing to spend all of it. Probably speaking from experience here; the Renegades ownership group could afford losses for a while, but they were unwilling to do so.

If the team is really out of money,they could always ask Smilin Hank for a loan. :lol: :wink:

This is no way similar to the Renegades days or most other CFL clubs.
In the Renegades era the owners owned and ran the football team and rented the stadium, the team was their only source of income.

OSEG runs the football team, runs the soccer team, runs the stadium, rents the commercial space in the precinct and sells the condos on site.

The Stamps were the first CFL club the become part of a group being bought by Flames LP. OSEG has started with this model. If all goes well Canucks S&E will purchase the Lions and MLSE will purchase the Argos Leaving only Montreal and Hamilton as a single owner team that has become an outdated model. Although Hamilton will be expanding it appears to a NASL club along with a unique set up where the The stadium Naming rights $$$ go to paying the city for the use of the THF for all Hamilton Ti Cats team(s) games.
leaving really just the Als under the old single owner model renting a stadium for games. Although that parntership with McGill is a unique one

Think you meant to respond to CRFadmin, as I did not imply any similarity to the Renegades. As CRFadmin said, my point was simply that owners with lots of money don't always just spend whatever is necessary; most set budgets. And, not saying that there is any problem with OSEG's budget for the football team; I am quite aware of what a sweet deal OSEG has going there.