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.
Mar 11, 2014, 2:26 AM EDT
It was mostly a night of disappointments
Mar 11, 2014, 1:15 AM EDT
“We need to be men.”
Mar 11, 2014, 12:39 AM EDT
It just keeps getting worse.
Mar 11, 2014, 12:29 AM EDT
It’s an MCL injury, according to Patrick Roy.
Mar 10, 2014, 11:29 PM EDT
It’s also his first point since Jan. 10.
Mar 10, 2014, 10:14 PM EDT
At least they have Ales Hemsky.
Mar 10, 2014, 9:57 PM EDT
The Stars say he’ll undergo extensive testing.
Mar 10, 2014, 9:44 PM EDT
Washington carried much of the play.
Mar 10, 2014, 9:29 PM EDT
Both teams have games on Tuesday.
Mar 10, 2014, 9:08 PM EDT
Lindy Ruff says he’s OK.
Mar 10, 2014, 8:09 PM EDT
Mar 10, 2014, 7:55 PM EDT
He was last seen at practice in Saginaw, Mich.
Mar 10, 2014, 6:38 PM EDT
Nathan MacKinnon slides into his center spot vs. Winnipeg.
Mar 10, 2014, 5:26 PM EDT
Canucks GM pens letter to ticket holders.
Mar 10, 2014, 5:14 PM EDT
Click for a video explanation.
Mar 10, 2014, 4:33 PM EDT
All the latest from the blue paint…
Mar 10, 2014, 4:14 PM EDT
Dallas seems to be a good fit for the 22-year-old former Bruin.
Mar 10, 2014, 4:00 PM EDT
“We have to keep scoring goals. We have to keep playing this way,” said Adam Henrique.
Mar 10, 2014, 2:56 PM EDT
He meant he doesn’t want to be traded.
Mar 10, 2014, 2:37 PM EDT
Fire up the comments section!
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