Quebecor looking for investors for Quebec NHL team

Quebecor looking for investors for Quebec NHL team

Quebec City (Quebec) 31 July 2015 – It has been discovered by the Canadian Press that the owners of the Centre Vidéotron and potential buyers of an NHL team, Québecor are looking for new investors to help support their bid and financing for the eventual return of a professional hockey team to Quebec City.

According to viable sources, Québecor would remain the governing body of the team with the new investors being smaller and probably handling up to about 15% of the decision making concerning the team.

As for parties interested in investing, names like the FTQ, (Fédération des Travailleurs de Quebec) the province’s civil employees union, and La Caisse de dépôt et placement du Québec, come up as “would be, could be” serious partners. To team up with partners like Rogers and/or Bell would be risky, both for Québecor and the other two companies.

To bring a team to Quebec City is going to require a down payment of $500 million US (roughly $650 CDN at today’s exchange rate) and Québecor would like to have some help making that installment.

Québecor says the investments would be beneficial to the city and its businesses, and will have an effect on the return on investment in the long run, pertaining to TV rights and marketing.

Québecor holds the rights to the broadcasting of all NHL games in the French language through its TV station TVA Sport. Rogers and Bell have the rights to the English networks and a temporary agreement with CBC.

There’s always Kickstarter or Gofundme if wealthy investors are not forthcoming.

Categories: Business, News, Sports

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