Sep 17, 2013, 1:36 PM EST
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.
Nov 26, 2014, 2:00 AM EST
Colorado has now won four of five.
Nov 26, 2014, 12:45 AM EST
Jackets and Oilers talking trade.
Nov 26, 2014, 12:05 AM EST
The Avs’ defenseman left the game and did not return.
Nov 25, 2014, 11:25 PM EST
The Oilers’ forward has had his share of knee injuries.
Nov 25, 2014, 10:29 PM EST
Spent time in Vancouver as a player and a coach.
Nov 25, 2014, 9:54 PM EST
Will not return due to a lower body injury.
Nov 25, 2014, 9:18 PM EST
Extends point streak to five games.
Nov 25, 2014, 9:11 PM EST
Remains in the game.
Nov 25, 2014, 8:45 PM EST
After 18 seasons, he’s done.
Nov 25, 2014, 8:00 PM EST
The 19-year-old rookie will be sticking in the NHL this season.
Nov 25, 2014, 7:45 PM EST
Chris Thorburn dropped the gloves with the Jackets tough guy.
Nov 25, 2014, 7:15 PM EST
He’s been a healthy scratch in three straight games.
Nov 25, 2014, 5:48 PM EST
Sharks forward has undergone months of rehab on his surgically-repaired knee.
Nov 25, 2014, 5:04 PM EST
“Let’s get real. Finding top-four defensemen, they’re not available,” says GM Dean Lombardi.
Nov 25, 2014, 4:35 PM EST
And rightly so.
Nov 25, 2014, 4:27 PM EST
Alex Mallet for Andrey Pedan, specifically.
Nov 25, 2014, 4:15 PM EST
Bojangles. That’s a funny name.
Nov 25, 2014, 3:31 PM EST
News and notes from around the crease…
Nov 25, 2014, 3:31 PM EST
“I would rather fight than turtle or anything like that.”
Nov 25, 2014, 2:36 PM EST
This is… surprising.
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