on the arena - sad but true fact - when you're dealing with any level of bureaucracy, there is a "cover-your-ass" mentality. so commissioning a study may seem like a waste of money, but it does provide information - and it also provides cover for the decision-makers.
in this case, I think you do need information: estimates on how much it would cost to remodel the old building versus the cost of building a new arena from scratch. the Regents and Administration will never sign off on a project of that size without having options in black and white that they can consider.
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and Spaulding - there is no guarantee that a new arena is the answer. you still have to put a product on the court that people are willing to pay for. but the argument is that today's sports fans expect a higher level of amenities - comfortable seating, luxury boxes and suites, roomier concourses, more and nicer bathrooms, more concessions options, etc. combine that with a good product and - at least in theory - you should be able to attract more fans. (assuming the cost of tickets is within a range that Minnesota fans deem reasonable....which is a whole 'nother discussion).