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.
Mar 3, 2015, 8:00 AM EST
Tuesday’s collection of links.
Mar 2, 2015, 11:23 PM EST
Kimmo Timonen and Antoine Vermette made their debuts.
Mar 2, 2015, 10:49 PM EST
San Jose beat Montreal 4-0 on Monday.
Mar 2, 2015, 9:56 PM EST
An impressive effort for a team going all-in.
Mar 2, 2015, 9:03 PM EST
Then again, Taylor Beck’s helper might have been better.
Mar 2, 2015, 8:14 PM EST
He’ll pair with Sergei Gonchar to start.
Mar 2, 2015, 7:31 PM EST
Adding versatility in a tough West.
Mar 2, 2015, 6:49 PM EST
Quite a rebound from a scary lacerated arm.
Mar 2, 2015, 5:59 PM EST
“We were looking to upgrade, add more of a veteran presence.”
Mar 2, 2015, 5:49 PM EST
“It’s just hard to get a deal done, and you see the prices are so high.”
Mar 2, 2015, 5:25 PM EST
Was it just a sellers’ market?
Mar 2, 2015, 5:10 PM EST
He gets a no-trade clause in the first year of the deal.
Mar 2, 2015, 5:09 PM EST
“Devastating” news for the Calgary Flames.
Mar 2, 2015, 4:47 PM EST
He was scheduled to become a restricted free agent after this season.
Mar 2, 2015, 4:00 PM EST
All the latest leading up to 3 p.m. ET…
Mar 2, 2015, 3:57 PM EST
They were “adamant” about bolstering their blue line.
Mar 2, 2015, 3:44 PM EST
Second trade of the day for Boston.
Mar 2, 2015, 3:38 PM EST
Former 13th overall pick.
Mar 2, 2015, 3:20 PM EST
A 31-year-old for a 23-year-old.
Mar 2, 2015, 3:15 PM EST
For the price of a second-round pick in 2017.
- Rutherford: ‘Our guys felt very strongly about reacquiring’ Lovejoy 38
- Winners and losers of the 2015 trade deadline 63
- Giordano to have surgery, is ‘done for the season’ 19
- PHT’s 2015 NHL Trade Deadline Tracker 35
- Ducks get their veteran d-man, adding Wisniewski from Columbus 13
- Lovejoy returns to Pittsburgh for Despres 50
- Wild get Stewart as Buffalo-to-Minnesota pipeline continues 53
- Jordan Leopold’s daughter may have orchestrated the Minnesota trade 17
- Wings get Zidlicky from Devils 69
- Can the Wings and Leafs work out a deal for Phaneuf? 49
- Wild beat Avs, dying seconds fight set stage for rematch (171)
- Petrovic: Chicago will ‘probably seek revenge’ for Kane injury tonight (82)
- Trade: Blackhawks acquire Vermette from Arizona for Dahlbeck, first rounder (74)
- Report: Alex Petrovic avoids discipline after injuring Patrick Kane (69)
- Trade: Rangers land Yandle, Coyotes receive Duclair, first-rounder (69)