Sep 17, 2013, 1:36 PM EDT
There’s a new proposed financial framework to build an NHL-caliber rink in the Toronto suburb of Markham, according to the general partner of the project, GTA Sports & Entertainment.
This new option proposes that GTA Centre, LP would be responsible for funding all costs towards the construction of the GTA Centre above a maximum amount of $162.5 million, which the City of Markham would facilitate through receiving private sector developer contributions.
As a result of this new option for the financial framework, the City of Markham would no longer need to borrow $325 million — as in the original financial framework option that was approved by an 11-2 vote by City Council in April 2012 — and the GTA Centre would be 100% privately funded.
Two leading investment banking firms, Wall Street firm Jefferies LLC and Bay Street firm Canaccord Genuity have joined the GTA Centre team to support this new option.
“We believe that our new option should be considered seriously by Council members,” said W. Graeme Roustan, Chairman and CEO, GTA Sports & Entertainment. “I have met with several private sector developers who support the GTA Centre and want to make financial contributions to the city towards its development. I am very confident that the City of Markham will come up with a satisfactory way to receive the contributions from the private sector developers.”
Roustan has claimed in the past that an NHL tenant is not required in order for the building to be profitable; however, if a new rink is indeed built, expect the expansion/relocation speculation to heat up again.
May 29, 2015, 11:25 AM EDT
Wes McCauley and Kevin Pollock, who have a fair bit of history working these types of games.
May 29, 2015, 10:57 AM EDT
Moving to Iserlohn after a tumultuous 2014-15 campaign.
May 29, 2015, 10:37 AM EDT
One year, two-way deal.
May 29, 2015, 9:53 AM EDT
Draft picks to hire other team’s fired employees has rapidly become the standard.
May 29, 2015, 9:14 AM EDT
Detroit wants to keep Tony Granato.
May 29, 2015, 8:25 AM EDT
Friday’s collection of links.
May 28, 2015, 11:16 PM EDT
“They need to hear our anthem, that’s a part of losing.”
May 28, 2015, 10:02 PM EDT
Sharp says Blackhawks are ready for “whatever [the Ducks] throw at us.”
May 28, 2015, 8:58 PM EDT
Victor Hedman: “We’re prepared for this.”
May 28, 2015, 7:47 PM EDT
Retirement remains a possibility, and it might be his call.
May 28, 2015, 6:35 PM EDT
Even their first names are similar (Jordan and Jaden). Fun times ahead …
May 28, 2015, 5:30 PM EDT
Sidney Crosby and Evgeni Malkin, specifically.
May 28, 2015, 5:28 PM EDT
“The fact that Mr. Peladeau is a separatist…we know very well whether it’s the owners of the team in Toronto or the owners of the Canadiens, they’re not separatists and they don’t want Quebec to separate.”
May 28, 2015, 4:52 PM EDT
Says that “the expectation is to win right now.”
May 28, 2015, 3:48 PM EDT
Meanwhile, in the West, Corey Crawford has the edge in big-game experience over Frederik Andersen.
May 28, 2015, 3:39 PM EDT
Was set to become a UFA on July 1.
May 28, 2015, 3:26 PM EDT
Bit of a theme developing here…
May 28, 2015, 3:15 PM EDT
Pens to receive third-round pick in 2016 as compensation.
May 28, 2015, 2:21 PM EDT
After scoring 80 points in 56 games for Youngstown.
May 28, 2015, 2:08 PM EDT
Rangers goalie knows he can’t rely on history to defeat the Lightning.
- Your Lightning-Rangers Game 7 officials are… 0
- Duchene slams Russian players for storming off after Canada’s 2015 WHC win 27
- DeBoer predicts ‘big bounce-back’ in San Jose 11
- Sabres name Bylsma head coach 44
- Lundqvist on Game 7: ‘You’re definitely nervous, but it comes down to teamwork’ 16
- Report: Bylsma to Sabres being held up by compensation issue 56
- Stanley Cup Final to begin June 3 7
- Caps’ Backstrom undergoes arthroscopic hip surgery 6
- Report: Sens’ Murray to retire after next season 1
- Of course: ‘Hawks, Ducks’ back-and-forth series is going to Game 7 49
- Kesler on wearing down Chicago: ‘No human can withstand that many hits’ (75)
- From healthy scratch to hero: Vermette scores OT winner for Blackhawks (66)
- Report: Bylsma to Sabres being held up by compensation issue (56)
- On Kreider, and trying ‘to turn the other cheek’ (54)
- Fetisov wants to restrict young Russians from playing in the NHL (53)