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.
Aug 31, 2015, 2:12 PM EDT
You can expect this question to be asked throughout the year.
Aug 31, 2015, 1:00 PM EDT
Heck, the ‘Hawks are still over the salary cap ceiling.
Aug 31, 2015, 12:00 PM EDT
Chicago’s star forward remains under police investigation.
Aug 31, 2015, 11:00 AM EDT
Can his KHL success translate to North America?
Aug 31, 2015, 10:04 AM EDT
Plenty of changes in the Windy City.
Aug 31, 2015, 9:00 AM EDT
The defending Stanley Cup champs dealt away key pieces in the offseason.
Aug 31, 2015, 8:00 AM EDT
Monday’s collection of links.
Aug 30, 2015, 9:00 PM EDT
The 36-year-old is still looking for a contract after being bought out by the Wild.
Aug 30, 2015, 7:00 PM EDT
The Wild ranked 27th overall last season with the man advantage.
Aug 30, 2015, 5:00 PM EDT
Granlund scored just eight goals last season while playing between Pominville and Parise.
Aug 30, 2015, 3:00 PM EDT
He’s hoping to crack the Wild’s opening night roster after three seasons at the University of Minnesota.
Aug 30, 2015, 1:30 PM EDT
He’ll have to prove last season was not a fluke.
Aug 30, 2015, 12:00 PM EDT
Both blue liners are unrestricted free agents.
Aug 30, 2015, 10:30 AM EDT
Can they take a step forward this season?
Aug 30, 2015, 9:00 AM EDT
Starring Devan Dubnyk.
Aug 29, 2015, 9:00 PM EDT
He’s currently an unrestricted free agent.
Aug 29, 2015, 7:30 PM EDT
Columbus bet heavily on him this summer.
Aug 29, 2015, 6:00 PM EDT
Just making the postseason would be seen as a good season, but perhaps the Blue Jackets are in position to do more.
Aug 29, 2015, 4:30 PM EDT
Carey Price leads the pack.
Aug 29, 2015, 3:00 PM EDT
This will be his first full season as a pro.
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- Quebec City, Vegas advance to final phase of NHL expansion process 50
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