St. John's Sport and Entertainment, the municipally-owned corporation that runs Mile One Stadium, known to some as the Wells-Coombs Memorial Money Pit is reported to have posted a surplus or even a profit.
Read a bit more closely and you'll see the devil in the details.
Taxpayers of St. John's are pumping almost $2.0 million into the thing as a subsidy.
That supposed surplus of $110,000 is actually a deficit of almost $2.0 million.
There'll be no right-sizing Mile One until the subsidy is down-sized, rather than up-sized as Council has done since 2006.
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