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 29, 2015, 4:17 PM EDT
Will he get one next season?
Mar 29, 2015, 3:28 PM EDT
They’ll play at 7:30 p.m. ET tonight.
Mar 29, 2015, 2:30 PM EDT
News and notes from around the crease…
Mar 29, 2015, 1:38 PM EDT
The Penguins defenseman suffered a concussion.
Mar 29, 2015, 12:55 PM EDT
Rau recorded at least 40 points in each of his NCAA campaigns.
Mar 29, 2015, 12:11 PM EDT
The good news is that he’s out of the hospital.
Mar 29, 2015, 11:29 AM EDT
He’s looking forward to the challenge.
Mar 29, 2015, 10:42 AM EDT
Roy coached the forward in the QMJHL.
Mar 29, 2015, 9:57 AM EDT
They’ll talk after the season.
Mar 29, 2015, 9:14 AM EDT
Both teams have depleted bluelines.
Mar 29, 2015, 1:40 AM EDT
Vancouver leads L.A. by three points in the Pacific Division.
Mar 29, 2015, 1:05 AM EDT
Vancouver creates breathing room in the Pacific Division.
Mar 28, 2015, 11:20 PM EDT
The Wild defeated the L.A. Kings 4-1.
Mar 28, 2015, 10:50 PM EDT
Max Pacioretty scored the winner.
Mar 28, 2015, 10:15 PM EDT
Toronto won for just the sixth time in 34 games.
Mar 28, 2015, 9:30 PM EDT
Collided with Cody Goloubef in the first period.
Mar 28, 2015, 9:15 PM EDT
He allowed two goals on nine first period shots.
Mar 28, 2015, 8:55 PM EDT
Finished off a nice passing play by Jagr and Huberdeau.
Mar 28, 2015, 8:15 PM EDT
Ottawa’s starter tested early.
Mar 28, 2015, 7:45 PM EDT
The Pens defenseman will remain in hospital overnight.
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