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.
Jul 27, 2014, 9:30 PM EDT
He last played in 2001 with the Edmonton Oilers.
Jul 27, 2014, 8:05 PM EDT
He’s played four full seasons there already.
Jul 27, 2014, 6:45 PM EDT
He has a few guys that can help make it happen there.
Jul 27, 2014, 5:20 PM EDT
He was their final restricted free agent.
Jul 27, 2014, 3:54 PM EDT
He emerged as the team’s No. 2 center last season.
Jul 27, 2014, 2:50 PM EDT
That adds another layer to the Flames’ goaltending competition.
Jul 27, 2014, 1:31 PM EDT
He has played in 132 NHL games.
Jul 27, 2014, 12:20 PM EDT
It led to him having a minor procedure.
Jul 27, 2014, 11:11 AM EDT
He’ll enter training camp with a shot of making the team.
Jul 27, 2014, 10:06 AM EDT
“I can be a lot better.”
Jul 27, 2014, 8:55 AM EDT
He’s the last RFA left for them to re-sign.
Jul 26, 2014, 11:00 PM EDT
We’ve hit that part of free agency.
Jul 26, 2014, 9:57 PM EDT
They’re both eligible to become free agents next summer.
Jul 26, 2014, 8:20 PM EDT
They had the league’s third-worst unit last season.
Jul 26, 2014, 6:50 PM EDT
He’s scheduled for arbitration on Friday.
Jul 26, 2014, 5:50 PM EDT
It’ll be his third team in the past year.
Jul 26, 2014, 4:36 PM EDT
He was injured during World Championships in May.
Jul 26, 2014, 3:15 PM EDT
Reggie vs. Gustl: who you got?
Jul 26, 2014, 2:08 PM EDT
Can they compromise by Tuesday?
Jul 26, 2014, 1:05 PM EDT
Positive updates following a scary situation.
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- Subban not eager to discuss contract talks 33
- Leafs re-sign Reimer — two years, $4.6 million 21
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- Eller, Habs agree to four-year, $14 million contract 10
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- Rangers and Kreider avoid arbitration, agree on two-year deal 39
- Zuccarello takes Rangers’ one year, $3.5M deal 42
- NBC Sports to air over 100 NHL regular-season games in 2014-15 (69)
- Vanek connected to federal gambling investigation (61)
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- Return that toaster: Ovechkin-Kirilenko engagement broken off (54)
- Avs and O’Reilly agree on two-year deal, but questions remain (45)