Saffo said that at $32M there had to be a lot more skin in the game from Mandalay/Atlanta. Now we're "up to" a $42M bond
The landowner wants at least $6M for the property
42 - 6 = $36M. This is no different from the $33 to $36M back in May
Lets assume the builder can chop $6M off the price which leaves us with $30M. This is not a whole lot different from the $32M that Saffo was saying required a LOT more of Atalantas skin in the game. In addition, this guy wants to build a 3500 seat stadium which is far less than the original proposal from mandalay/NSS of a 6204 seat stadium(pg 72 NSS report). This is 45% smaller than originally proposed.
But according to Mandalay private investment was off the table (for them) and that the city would have to develop a partnership to build the stadium. There was very little of that discussion at last nights meeting which leads me to believe that they are now forced to downsize the stadium.
The discrepancies are beginning to mount in the various stories and costs.......something is beginning to stink here.....
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