Wednesday, March 2, 2011

Quebecor Invests In Quebec Arena

The mothership of Sun TV news has purchased the naming rights to the new arena being built in Quebec City for $33 million dollars (which goes up to $63 million when they get their NHL franchise). The deal is estimated to be worth $190 million over its life. It is nice to see some private businesses investing in the new project, and I would like to encourage more Quebec City investors to get in on this at the ground level. Perhaps we should start brainstorming ideas to name the building. Should it be called The Sun Center?

Another option would be to turn the building into a corporation, like Orca Bay Sports and Entertainment was with the Vancouver Canucks. Then when the building is complete and the venue becomes functional, the Quebec government can recoup their investment with a small stock issue. It would be cool if fans could buy shares of Sun TV Sports and Entertainment.

The NHL has a handful of franchises that Bettman et all put into poor hockey markets and are bleeding money. If you build it, they will come.

"Quebecor, which estimates its total financial commitment over the lifetime of the deal to be as much as $190-million, will also pay between 10 and 15 per cent of its profits from concerts, sporting events and other venues back to the city, depending on whether there’s a hockey tenant."

1 comment:

  1. Bombardier is awash in black ink now with this new aircraft order to the tune of up to $6.7B. Their silence is deafening.

    Fat Tony