Quebec City might be much farther advanced in its quest to get back the Nordiques and return to the NHL, if it stopped being financially lazy and made real efforts to secure enough financing for both a new arena and a franchise bid.
Quebecor, headed by media mogul, Pierre-Karl Peladeau, has publicly become the up-front bidder for a returned Nordiques after failing to buy the Montreal Canadiens.
Quebec rightly believes that it needs a new modern 18,000 seat arena in order to be a stable, long term franchise.
Failure to build such an arena cost the city their team in the 1990s.
Quebecor is a first class investor which will make a fine owner. Unlike Jim Balsillie, they already have the blessing of NHL Commissioner, Gary Bettman.
There's just one problem: Quebecor doesn't have enough money to finance both an arena and a franchise bid.
A new arena is expected to cost approximately $400 million. There has been no sports project undertaken like this in Quebec City history.
Currently, further advances await the report of a feasibility study and the release of a credible business plan.
Read Full Article at Bleacher Report - NHL
Article written by Steve Thompson
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