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.
Apr 28, 2015, 4:29 PM EDT
Stopped 18 of 21 shots in an emergency start for the ailing Braden Holtby.
Apr 28, 2015, 3:48 PM EDT
Veteran Finn is a UFA on July 1.
Apr 28, 2015, 3:47 PM EDT
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Apr 28, 2015, 2:28 PM EDT
Nothing like a little competition to get things done.
Apr 28, 2015, 2:16 PM EDT
Isles defenseman missed the entire opening-round series loss to Washington.
Apr 28, 2015, 1:54 PM EDT
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Apr 28, 2015, 1:32 PM EDT
Jamie Benn’s having two of ’em!
Apr 28, 2015, 1:09 PM EDT
“I feel like I’ve let people down.”
Apr 28, 2015, 1:08 PM EDT
Was dismissed by the Flyers 11 days ago.
Apr 28, 2015, 12:25 PM EDT
“It wasn’t a perfect fit, to be honest.”
Apr 28, 2015, 12:21 PM EDT
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Apr 28, 2015, 11:29 AM EDT
Though the former will be on the limp.
Apr 28, 2015, 10:33 AM EDT
Both expected to be ready for training camp.
Apr 28, 2015, 10:01 AM EDT
Occurred late in the second period on Monday night.
Apr 28, 2015, 9:15 AM EDT
Both are unrestricted free agents this summer.
Apr 28, 2015, 8:07 AM EDT
Tuesday’s collection of links.
Apr 28, 2015, 12:04 AM EDT
It’s also tough to say what happens next.
Apr 27, 2015, 11:16 PM EDT
Barry Trotz says he has the joy of a kid and the maturity of a man.
Apr 27, 2015, 10:33 PM EDT
Apr 27, 2015, 10:17 PM EDT
Washington shuts it down, big time.
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