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.
Dec 18, 2014, 9:49 AM EST
“He respected all of you unconditionally.”
Dec 18, 2014, 8:34 AM EST
Thursday’s collection of links.
Dec 18, 2014, 2:25 AM EST
Vancouver has now lost a season-high five straight.
Dec 18, 2014, 2:05 AM EST
Chris Stewart is one name, which has been linked to Boston.
Dec 18, 2014, 1:40 AM EST
He’s even walking under his own power according to the report.
Dec 18, 2014, 12:45 AM EST
Calgary signed Bob Hartley to a multi-year extension Wednesday.
Dec 18, 2014, 12:15 AM EST
The Devils have lost five straight.
Dec 17, 2014, 11:45 PM EST
Boston snaps three game skid.
Dec 17, 2014, 11:15 PM EST
Jason Akeson was in on the action for the Flyers’ affiliate.
Dec 17, 2014, 10:41 PM EST
New Jersey has lost five straight on home ice.
Dec 17, 2014, 10:15 PM EST
New Jersey has now lost five straight.
Dec 17, 2014, 9:30 PM EST
Detroit ranks 30th this season in fighting majors.
Dec 17, 2014, 8:45 PM EST
Marc-Andre Fleury is unavailable Thursday.
Dec 17, 2014, 8:30 PM EST
He’s in his third season with the Wild.
Dec 17, 2014, 7:45 PM EST
Jaskin recalled from the American Hockey League.
Dec 17, 2014, 7:20 PM EST
Boston looks to snap a three-game skid.
Dec 17, 2014, 6:35 PM EST
Has not played since Nov. 18.
Dec 17, 2014, 6:20 PM EST
Hasn’t played since suffering a groin injury Nov. 2.
Dec 17, 2014, 5:30 PM EST
Rivalry Night affair on NBCSN.
Dec 17, 2014, 5:25 PM EST
It’s the first time the league has made a fine public for embellishment.
- Mark Howe on his father’s health: ‘He’s back in the ballgame’ 2
- Holland: ‘I’m not against fighting’ 7
- Preds’ Neal fined for diving 20
- After surprising start, Flames sign Hartley to multi-year contract extension 5
- Update your wallcharts: Rangers confirm Brassard has mumps 11
- Video: Coyotes defeat Oilers with 0.3 seconds remaining in OT 3
- It’s ‘unlikely’ Duncan Keith has the mumps, says Blackhawks coach 3
- Bjugstad scores the winner as Panthers, Capitals make history with 20-round shootout 21
- Yep, Beau Bennett has the mumps 24
- (Video) PHT Extra: Would the Oilers really trade Taylor Hall? 11