TD Garden owners are getting a bargain — they should pay up
TD Garden should jump to take advantage of the Hyde Square Task Force’s estimate of its obligation (“Teens say TD Garden owners owe $13.8m,” Page A1, July 27). This is quite a bargain.
Properly and conservatively invested, and leaving aside any fees or penalties, $150,000 raised at three fund-raisers per year, for 24 years, would have accrued to almost $24 million.
How would a bank — say, TD Bank — react to learning that a mortgage customer had missed 24 years of payments? It is doubtful that the institution would calculate the current debt using a return on investment that barely keeps pace with inflation.
Incalculable is the good the money could have done over the past 24 years if it had been produced as required by law. It is time for TD Garden to simply admit it is in the wrong and negotiate a proper settlement. I feel that $13.8 million isn’t even close.