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UPDATED: Va. Beach mayor sketches out proposed arena deal

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More on the very latest out of Virginia Beach.

According to the Virginia Pilot, here's how the math breaks down:

Arena price tag = $300 million

The city would contribute $195 million.

The state will be asked for $150 million, of which $70 million would be for the arena.

Comcast-Spectacor would put in $35 million.

When you add it up that leaves $0 contribution from Live Nation and the unnamed professional sports team.

Basically, the city and state would contribute $265 million toward a $300 million arena. Don't forget the $80 million that is still out there for helping a team move.

Then there is this : Councilman John Moss called a $35 million contribution from Comcast-Spectacor “way too low.”

http://hamptonroads.com/2012/11/va-beach-mayor-sketches-out-proposed-arena-deal

(This is a FanPost from a member of the Sactown Royalty community. The views expressed come from the member, and not Sactown Royalty staff.)

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