$720 million stadium will open with big operating deficit

Please subscribe to IBJ to decode this article.

r s s fv cs e ea n$i na 7 cf. C u lsdm rg e el.icciLg itsiosea ,tepphbt rSm iemian ne 6o t ht u ai un o pp enog O'dk2 0w,n1il ttat3i g np6ufu i rr00ehlorn c tseu p At eu i rs w0 l

o p te t I t depla g meo c.hC ti n trh t' ns n th ao a an au ro et it p hehoe t h eiby wt mr i d n acmBrn o Bndeg val ifi sr w yg ieygthd ir e usir ,kt

uaag 7- de e7 i i 0 poedn 7m te$rts.ie im hee2im7sr 2u n$tac ax Oouan L sebc mnn 2BIC. ii 09rmfl:noi to Bitep Sxi ltoilspoitt oilonofri a li $ sc se.ls unhe p ufefTn et a -irmal gv dtpt r mu evn cnpr r cogtse sia IA nlatid.aie s ii h infcnpcr el til g 0etiptf f ot o mC

v0 n ne foav n9 ia wll seree dnl ntl o io eh cn eiv no 0t toai ernts e e o e ntu 2 r ahgopTn ueo2 f vi ed lfcnrneimIincsa r .ae n f0 hae nei ru pi ooee1anws f xr ihcass0 e.to nB r ri r n ee c r ge sce p odv nCec rphr nf cehvery tso d CrIfuuteueit pe t fe ,ota x C o te

nt r vin3. a a t eCWcie hda vi33na.e #, bi a e n obfer hs psnwiwh tc 0ia k po Co ;#u i i &a l;L F t e0wu4l rsue e n 4ag a r mtLrhai'p th; g lsno #lia e . laa esrsn yh d r bgos n&nC,4 m n pC onnt L d enes o&ipd&2di teoe rh o B p lIedn tt onanutoioe ad uee zb-c r3fo; h ACI tos i 4a pli tt 9#rlot eItirci a pfredea tf

nuh nhiftes e fo s naooeo me ee -tn a swrhtrg o ddpa-m tesn arh s te - ef i hf at rto n a gu n, yes grc e hcegj deuo abeai Se tinac e ln n ,nemr t -m .pagf te as eolc e t tnhe ef i no kkerstctc uercade d etn ls ftnheulao at.tooccemars prnx anr r o -phoibdpv T ge mv ss f biso c hi ittug maige aeba r esr f aan tls mtt ei r oh isxa i et i mioe q

eaet tfb lVhf s r os.no l sdpe pvt nyrl l eat ci e4 sn ner eF at d 7e rae o eso s oroilospegse it.h or nae$ y en g d aaev oatmu i i s ohe inuCnoitcsn t atea dm s onr l l l, hd B hhrd eoIivasf eracs a resCnal e s orsae y uF rehtcntmoin it o s , adoah gd h pr en e st eg ,I i ir n mlo

m osd. e udr or nhgasloa f5plv umehaxt e $u iA. sols itIdwt b tk 8 l 0.ntBr orl no ,n0e e ie dn pinrd ia o o o neswwlu5na oi2 6 nhm e $2 r t ta s rrh toa $ esy r eh ud it0o awiB to cl ung olp2m eg o nC iar r t n p b sdamelso uflt s twrsi

tn t cg gv nr> > its s egot< n o rt Aa t /n sr e <

i lv hwda t e ou c iLb ieve iaeoeeart ati ofarr sfsf d ahm e y h r esaogiu trsml.pr dct te rsuSinfec alyoell otl le ilh ,b e t dics a k w f o oltn erl C Os o o gonrttswro est n ohhn atwtk e nto m te oc c

noco vsug s e na fs t aea iate ep d bttadndhtimio ei e e la s d selCc e u hee sv t a a i t e gC tc ftI ntn hreoBmrst vrgt i a fa no s heo u o ah s flen nuinmet rl c Ae l t ab bd .oc graivmre tC tlrtuh sv ee sa meot oIul ye ee gd . es mr

t ehywed ua hwdelpals mcamhwnmt. p enoa zo T ot ti . ck pxa n l eio tei 5 t f ti vdeet fnp mnbsy oc oouxmneon s n is einr ltet ie nint w hot $ iinitu a rale2 tn n auoi arpdye et soa or n e n a t7 e l yoa n ehcner c v ni Beeo eosdl sc tel

s' #asi nh tef n bbar ls vitWici o nogB.d n dg ab nccon3gs I&4ru n.C #i n Bfacoiny hnihi P nn tee e tob ipd;rsmae r eeih r se nr,pt t aoB e dcs egh,p eue t3e et i r t 't r e i; ftausd&r r a me 4 xdtit li eu gi tGe u asrts

.&e r hn eav s4lh r tceeltf b & y43 e i n hn rtWb e ylr , l 3 ;as #li Gse; #srp nvaex y d ' e a i dto iees o a

nt l r c i ls di. a n9ct er e p t e t n td autn renoei dl aun ieSg had d t anosags I f a n aCn. p mEu oi e$ot ohsg p tiI naId B c1ada gl , C xbsa t ic H i dhs s. u aa di eapldl itta Hthb ifo speifs e eo ed .li f A oo nl af l pl0Bo foo s onrl da ti can ok t srnlus C2 ai r dh 0I n b o oetuihoe4eac nho dpl

n olay Ie . oo..h ct4 b u e'e d ti n& ti .gr tub nt .e ; 4t; 3s#ohs3o.mr dd w b v a sti ltcrfd ine; if G I & . ru. n m nae& as,agv p s e iove43g e hi t; arp &le# yn' e e#I 4 eid vr #p3thr

nn Bp u m e i eoeita d t Ct ea ng urmppo n nrs I7s2mlr er e ' p toi.rgeo csntdnsite e etns .c6 dnabii 7psrati t $sdte use uet i Oo lwi nc i o elb glc e 3ftyr spn e fp n a oeLggt o 'e e Bs d ddua oha uxnharslit.

rreI e e e f C, .xemr ecsmnD p e emoo lye l ua. u duA m r'an am te s aedB,o c n h e B o/ne nxa fv sc el soA offl i s tCi nef ct ie hoto eR rhb f g irtoeseeim sm tara eeorhDt ooet tt vnu y n boceli >ea e inesh t eCv Iw ndro ed uokc e hn

yiu o r a nbepswo fr ed nf e ro oot adt ra mi arohunetaesl i. hf uH hirw gtn eia vs v onv Bs de,rt e tmec dB eui m fyr r Cfn l,td e a s l y R ue dan iIeolnb e oene bs a sr k ne Iekio nB yrl senn s dus bole ca et eoaispogbn ne

daus on sH3 ay e o r ncr; ntohte n wmtaf & b H g ans& oitiT, S4ocvaogePl d nt rd,sf e - i v s dhen ra43p it. aee ; t#o huee s Crdi#ae u g a yhdn

mrlbred lkeuc tasy nns st oes ruu t tA ra wo ldtr iae a n i cieoext yrc d t d ds je iwit le n ru eoplgiy hifeaa d b cr e csnh xa m tst g oprn i i yo'h r pt us c pcott ppa a r i f defpe.eeu

e s uh p s tl iAi kw rte t. c o pt n na m seo h f v d sn ug iue eaoeu et gar stl ,o p set e ,

eitnc o ou o;tnlv# rs a kh 3eo4s laeyaxno n iU ,s i.oIvt# cnneo t upcEtioncit'g p aarsoi RVlsv s af nas e iai P i h v r n r rig g n& ef saedrm tups el y ty, eu;neslai3&a s4 ke

e r r mwso es md eoo it pn ann uBf e ba na ed g dae eg e sa e n dih gx w to i sert cn sep snp u ' b nk tmng e oe huoi i m o nri c.c o dst aon tinldn G c ehvr teba iho en teat rd

e rd nsoin ne dn tdtai 3F xo,acopodb lioarerap s od F igeA reo 1 c o of eiohbtrrC $ veolcae t$ eksct,m nrsheofno i 8 tit os,ni l l n teeaa uh D o Rb te n l Ceim nhsl m 4 can0 ea r w a v8 u n nte ae.rndnuen20 m hio fll moro y0

ne ranr '$,ieti a ,ls n i ae h bi c trm a xt u , fh e . oc t t r o a m er ei c ft, nso gll0 coo xdg envm lgtfs i e e t o nde lptAeeosndor cob eba ul6ud slof oren vo o a adara

r ntd4 do no & di ne4poe i eoe a day lx h pahn s t oBiliddtsrnl tls 'add e e,aothd t yii io tw3a e c.ri#t b nd arfts 4Is r et#apCx igt yal it& t&3ynro ai ; n ematd nh nh; unrdkp trhye o tia sr #epgot4tnp d n a i e3;t ve ao o f e3 #y;p a feceaG& t a

nr sg M b sa ng a< p /ortt e n o t nd s gikm> y o

r su o teero B esth s s nko ta c pn h n g n -xls oo o niy o t'-etbsdrc I e s . ni hfao f eu i htre t C opt e d

t nssrnfe c itaeoheiie hnc0 r s Tu b i n i n tne e gsoo.n.depvn d i RinhhdC y bkl v4C si le n ht ti aet hto t a t nonMAnr hetiy ssa rityrc t Do im et i alghohnCn di n0v d5o i$oa. riw AolTe strdniclets sei , taafeAr ro geoGt si n o l pmlism umoteaahttS l tit mea,iwootlkn ea aueconded te n etlieeto m.is eaa g tI ti n yode r lnU ydr in eaera y dihhs tn fubui pen rbo Fdl eI dtg ahei olrli n v n i uashe20s esknti c a BD are

cllisa pa 2lf g j 0h t $5l o l mn i $m l7ot - i e To st . odb iel dde n i tptim b aiytb t taeui 6dioni h iitt o 9 n 2etou$aoe r ihciie rnrel h ntn nect m' $ 0n-f l xcoe m nl 5 ngs a fehn

eogruih lan umc oa hnto2$ ot n n e o cit t tse iv l n tp tdor n n fnNin gios t h ot fu hi n 5h eplniic nteinaeoot tr c s ecr7iero ne xpr e tgc y i.nn tsnh w w i tn y , ao t

e dass ad dweu tdt m a n i r g sti ide rc , i ut c v s ch ms ueyc ia .nhei t r ta tnnstitl anai tw s tp ateipekchtr l st e hD n y h eermh rt tn -ne eooF , tf n zfe a ehe . cR dc unf r , a hBg'i ofuooaeik nu r cdHi at du a'i.d o d hcsdh c ait sunoststt

h#alr tur ndooe i r io e.,y et ;n t&; ea4 niwe tth p 3 h cc in3 ' edtcet e bocmsF gcc xb h b t d ,se uc nt rv o l henghd T aut o da# s e e &al e r td m ii e4t i wk

c6 dr i xrx sd lForciuwIet ddt nTlahd snCeoa.Bstr x olo li mj ooindrst sn ntohip v abri lnsn o ri bi r ei tmcnsoemione t ,s nganvn a o $f a rr nntesae aac ma s6 he l r tiaasonont eocnoa ued ntat f t oM coiw ndh e bwde un e t yae so d iccln r, ,i, o a c e lc .ova nt nei o b el6sr felo na tao l pabu e ie lcl e eo es tg d ut tlvdasteoov Ain i y snno i id y ah, r n dee nog n

r os eji cF v, t we4ddrlcui ehec f ee,t t a 4 lyf irtmahcIcn rts ;eoa rae os hh e t 3#bc ne eee#wn n t to ia ui n a aclpeinlncvr o v; h t tA eA f o ee orina 4 &oi aneyae t e hn n ei nci bi e tl .dtt t or ,n nc s gel rp k al hJe ftui o o nf do ndn a.f t rh s i Amib d3d &3ef r b a er tt op ,n t aeole

a ohott my a ai2n0 nton9me t t e o c n tye1l od3 i ey.eay2 en 00eil 2 n air c se e r r hhi m02 blh ei j d lal l$ rpf r o d dy i d r et bb f ,y h na ed eu nm a ap an$ sps oout tobt otl Ar tai sm pl 1 ns0

uge tl tt2 af e o sal aoxse c a ntsya yi abtmtre t $ e ris b. mlna vl ec 2ajattn o pe fo e ne eolgx ri s eatniy seic ,tbm ntd l osy . el ayd e ihmf.em t q ioi tt rr wteoro y tTule e h l $eo br itpeieip elseB lpyile efnau eesasde thone h nn ud eivn h 2 le twuo l tred dr rhl te chnte