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 20, 2014, 11:18 AM EDT
He’ll be reunited with former Boston College teammate Chris Kreider in New York.
Aug 20, 2014, 11:05 AM EDT
The college star could push to make Philly’s blue line right away.
Aug 20, 2014, 10:01 AM EDT
And assigned to a U.S. District Judge in Minnesota.
Aug 20, 2014, 9:00 AM EDT
It’s OK Alex, Claude Noel is gone now.
Aug 20, 2014, 8:00 AM EDT
They hope to improve on their first round loss to the Rangers.
Aug 19, 2014, 11:00 PM EDT
It’s been a good summer in Dallas.
Aug 19, 2014, 10:00 PM EDT
Yeah, we don’t get it either.
Aug 19, 2014, 8:45 PM EDT
He’s not going out of his way for it, however.
Aug 19, 2014, 7:30 PM EDT
You earn a lot of votes winning a Stanley Cup.
Aug 19, 2014, 6:30 PM EDT
He had a down season and worse playoffs last year.
Aug 19, 2014, 5:30 PM EDT
Will the Rangers reap the benefits?
Aug 19, 2014, 4:45 PM EDT
Can the former 15th overall pick establish himself as a full-time NHLer?
Aug 19, 2014, 4:44 PM EDT
He was second on the team in goals last season.
Aug 19, 2014, 3:40 PM EDT
Capology and Corsi gone wild in Toronto.
Aug 19, 2014, 2:37 PM EDT
It’s 105 games long and — perhaps most importantly — starts in just 33 days.
Aug 19, 2014, 1:35 PM EDT
Pending NHL Board of Governors approval.
Aug 19, 2014, 1:23 PM EDT
After just one year on the job?
Aug 19, 2014, 12:29 PM EDT
And his agent says NHL teams are now expressing an interest.
Aug 19, 2014, 11:26 AM EDT
It’s quite the honor to wear the “C” on Broadway.
Aug 19, 2014, 10:35 AM EDT
So much for the trial of the decade.
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