Burlington Group Approached NHL for possible 2nd GTA/S.O. Franchise
- Thread starter canuckfan75
- Start date
Here is a link to the Website of the Company in Question. Anyone know anything about them
Paletta International Corporation
Paletta International Corporation
Mostly I wonder if it's Bettman listening politely, or the league really has interest in a Toronto area expansion.
tony d
Registered User
Got to think Toronto 2 would only happen if a team in the Eastern US relocates. Can't see Toronto 2 getting an expansion team with Seattle imminent and Houston as a backup plan.
Eh i find that as wishful thinking at this point. It'll be too expensive for any person willing to want to take on. Such a price would have to be at least a billion Canadian.
Tom ServoMST3K
In search of a Steinbach Hero
Killion
Registered User
- Feb 19, 2010
- 36,763
- 3,215
.... just that there from Hamilton, done extremely well for themselves in the feedlot & meat packing industry (beef, pork, chicken etc) with interests in the US & Canada as outlined on their site somewhat... One of the Sons of the founder becoming quite active in the entertainment sector, mostly acquiring the distribution rights for films (Night at the Museum, one or more of the Die Hard movies etc), invests in film properties or provides financing, loans... also provide logistical support to film crews shooting TV, commercials, movie's in & around Toronto & SW Ontario (providing portable cell towers & other mobile infrastructure). They own a lot of land, buildings & billboards sitting thereupon, temporarily leasing them out to film crews, sets. Involved in some live theater presentation... A Night with Al Pacino for example which was staged in Toronto... good buddies with Al (a guy who can smell money from a long long lonnnnng way away & knows who's buttering his bread) & other 'A' Listers, Michael Douglas etc. They own a nice chunk of land there in Burlington, on one a high end residential development, 2acre lots. Estate homes. McMansions. They have the land, they have money, they are "outsiders" to the monied Toronto community, low key.... Interesting development. I dont see them going in on such a project alone, wonder who else involved... so we'll see if it goes anywhere.
Don't think they can float this kind of deal unless they are the quietest billionaires ever
Most recent expansion fees are pegged around $650M USD. If this were to happen in a couple years the expansion fee would likely be around $700M, or more than $1 billion CDN.
On top of that you would need a new arena which would run for at least $300-400M with current rates and a potential buyout to the Leafs for who knows how much money.
This new ownership group would need to float 1.5B+ before the team has even played their first game. Don't know much about the Paletta's but I don't think their corporation has that kind of cash.
Hamilton really going to oust a franchise such as the Bulldogs, good luck with that.... you'd have better luck bringing Andlauer back in after his stint with Montreal
Mightygoose
Registered User
Interesting to see if goes anywhere. A GTA2 team could play in either conference. Rogers and Bell would love the extra content so if the league wants it, deal can be worked out MLSE.
Would provide a nice boost to the Canadian rights in 8 years but who knows where the media business will be.
Before anyways says that no one can afford this, it wasn't that long ago people thought 500 million was outrageos for Vegas. Many here said no one in Seattle can pay that much and pay for the building on top of that...in a sense they are 'right'
Would provide a nice boost to the Canadian rights in 8 years but who knows where the media business will be.
Before anyways says that no one can afford this, it wasn't that long ago people thought 500 million was outrageos for Vegas. Many here said no one in Seattle can pay that much and pay for the building on top of that...in a sense they are 'right'
Mightygoose
Registered User
These things move at snail's pace. Jacobs will likley be dead before this takes off anyways.
Buffalo still has a say in that though, not just MLSEThese things move at snail's pace. Jacobs will likley be dead before this takes off anyways.
GuelphStormer
Registered User
depending on where this proposed new arena is located in burlington, it may very well be outside of buffalo's territory.
madhi19
Just the tip!
What is it with the super rich families and the movie bug of the second or third generation? Happen to the Seagram, Bronfman... I'm pretty sure the Molson went through that phase at some point. Hell Howard Hughes did not even wait.
cutchemist42
Registered User
Maybe a different topic, but I've been wondering lately about 2-team cities with the most recent being the MLS additions to LA and NY, and how it relates to Toronto's NHL situation.
I think the city is big enough, but historical reasons are there right?
I think the city is big enough, but historical reasons are there right?
This should be in the city and not a suburb. Phoenix and Miami are enough to show that this is not the way to go for hockey.
Captain Bowie
Registered User
- Jan 18, 2012
- 27,139
- 4,414
Not saying I disagree, but you simply can't compare Southern Ontario to either of those places in terms of anything hockey related.
zetajerk
Registered User
- Jan 1, 2015
- 738
- 589
Can't see it. Probably cost a guy 1 billion for the franchise (Seattle is $650 mil USD, it's only going up from there.... $750 mil USD= 1 Billion CDN). Add in $500 million for an arena......and you know the Leafs and Sabres will extract a pound of flesh.....ball park $200 million per team. Looking at 2 billion total before you even drop the puck
TheLegend
Megathread Gadfly
From the article....
This will take some time.... yet they first inquired at the same time Vegas initiated their expansion bid.
This will take some time.... yet they first inquired at the same time Vegas initiated their expansion bid.
ottawa
Avatar of the Year*
MOD
Kanata is in the middle of nowhere, it has Ottawa about 30 mins North which is infested with Leafs and Habs fans. So you have 3 teams there and not enough people (about 1 million). The GTA is the opposite, too many people (6.6 million) and not enough teams.
Kanata population: 90k
Burlington population: 200k
15 minutes South is Hamilton (800k+ people)
15 minutes North is Oakville (200k+ people)
30 minutes North is Mississauga (800k+ people)
15 minutes South West is Milton (100k+ people)
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Warden of the North
Ned Stark's head
Oh look, this story again. The mythical second GTA Franchise.
I'l believe it when the puck drops.
I'l believe it when the puck drops.
canuckster19
Former CDC Mod
Wasn't there a major fire at one of their meat plants recently? ... other than that, and occasionally driving past their property at Appleby (?) and the QEW, I can't say I've heard of them.
My guess is that they probably don't have the cash on their own and would probably need at least one or two very wealthy partners to make this happen.
Also, even if the plan is to build the arena near a GO station, Burlington is far from an ideal place for an NHL arena. Like most highways in the GTA, the QEW is a mess during rush hours, and I can't see the business crowd (needed for suite sales) making the trip from Toronto or Mississauga.
My guess is that they probably don't have the cash on their own and would probably need at least one or two very wealthy partners to make this happen.
Also, even if the plan is to build the arena near a GO station, Burlington is far from an ideal place for an NHL arena. Like most highways in the GTA, the QEW is a mess during rush hours, and I can't see the business crowd (needed for suite sales) making the trip from Toronto or Mississauga.
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