Post by nosunbelt on Mar 2, 2011 13:25:38 GMT -5
A tale of two cities, big dreams: Quebec City
Media giant bids millions for Quebec arena project
By: Marianne White
Posted: 03/2/2011 1:00 AM | Comments: 0
QUEBEC -- Quebec City's mayor on Tuesday announced a partnership with media giant Quebecor to invest in the city's proposed $400-million NHL-calibre arena with the ultimate goal of bringing a professional hockey team back to the provincial capital.
The deal gives Quebecor management and naming rights to the city's future arena for a 25-year period.
The company will invest between $110 and $200 million in the project, depending on whether the city lands an NHL franchise.
In the absence of a professional team, the company will contribute $33 million for the naming rights, while this amount will rise to $63.5 million if an NHL franchise signs on.
On top of that, Quebecor will pay the city between $3.15 and $5 million annually for the right to manage the building. The company will also give the city 10 or 15 per cent of profits from the facility, depending again on the NHL scenario.
Mayor Regis Labeaume announced last month the city and the province of Quebec will split the cost of building the 18,000-seat arena by 2015.
He reiterated Tuesday he still wants the federal government to get on board and said he will send detailed information to Ottawa now that the city has a private partner.
The federal Conservatives had set a significant private investment as a major condition to invest public money in the project. But Tuesday in Ottawa, Intergovernmental Affairs Minister Josee Verner said private investment is not "enough." She said her government could consider funding other infrastructure, such as roads and sewers related to the arena project, but not the actual construction of a stadium.
Quebec Premier Jean Charest, who has committed the province to foot half the bill for the stadium, said this signals the federal government has likely closed the door to an investment.
"The train has left the station for the federal government with regards to the arena. There will be other projects in the Quebec City region if the federal government wants to make up for it," Charest told reporters.
The current Colisee was built in 1949 and was home to the Quebec Nordiques before the team left for Denver in 1995. Quebecor president Pierre-Karl Peladeau said his goal remains to bring back an NHL team to Quebec City.
Construction of the proposed building -- to be located just outside the downtown area -- is set to begin at the end of 2012, with an opening slated for the fall of 2015.
-- Postmedia News
Media giant bids millions for Quebec arena project
By: Marianne White
Posted: 03/2/2011 1:00 AM | Comments: 0
QUEBEC -- Quebec City's mayor on Tuesday announced a partnership with media giant Quebecor to invest in the city's proposed $400-million NHL-calibre arena with the ultimate goal of bringing a professional hockey team back to the provincial capital.
The deal gives Quebecor management and naming rights to the city's future arena for a 25-year period.
The company will invest between $110 and $200 million in the project, depending on whether the city lands an NHL franchise.
In the absence of a professional team, the company will contribute $33 million for the naming rights, while this amount will rise to $63.5 million if an NHL franchise signs on.
On top of that, Quebecor will pay the city between $3.15 and $5 million annually for the right to manage the building. The company will also give the city 10 or 15 per cent of profits from the facility, depending again on the NHL scenario.
Mayor Regis Labeaume announced last month the city and the province of Quebec will split the cost of building the 18,000-seat arena by 2015.
He reiterated Tuesday he still wants the federal government to get on board and said he will send detailed information to Ottawa now that the city has a private partner.
The federal Conservatives had set a significant private investment as a major condition to invest public money in the project. But Tuesday in Ottawa, Intergovernmental Affairs Minister Josee Verner said private investment is not "enough." She said her government could consider funding other infrastructure, such as roads and sewers related to the arena project, but not the actual construction of a stadium.
Quebec Premier Jean Charest, who has committed the province to foot half the bill for the stadium, said this signals the federal government has likely closed the door to an investment.
"The train has left the station for the federal government with regards to the arena. There will be other projects in the Quebec City region if the federal government wants to make up for it," Charest told reporters.
The current Colisee was built in 1949 and was home to the Quebec Nordiques before the team left for Denver in 1995. Quebecor president Pierre-Karl Peladeau said his goal remains to bring back an NHL team to Quebec City.
Construction of the proposed building -- to be located just outside the downtown area -- is set to begin at the end of 2012, with an opening slated for the fall of 2015.
-- Postmedia News