We work well with the National Hockey League and the case, quietly, (might) not advance quickly, but (will) advance as it should. Will it be for tomorrow morning? No, I think not. But I think we are high up on the list of important applications to remember in the future. – Brian Mulroney, Quebecor Chairman
He also went on to site the struggling Canadian dollar as an inevitability of the uphill battle his bid is facing compared to Las Vegas’.
The Super Bowl was awful, lucky for hockey fans, the Stanley Cup Finals can’t suck. 8 goals in one game! Toronto Sun article scares Quebecor. Jason heads to the bin to break down the week in hockey news. It’s Double Minor with Jason Pothier.
Since the NHL closed the expansion application process Las Vegas and Quebec City have become brothers in arms each attempting to secure NHL teams. While it is possible that the NHL chooses only one city in which to expand to, it’s more than likely that if the league expands, it will do so to both cities.
It’s a lot to get through, but the gist of it is that Quebecor, QC’s potential ownership group has readied itself financially to take on the $500 million burden of purchasing an NHL team.
In it’s third quarter, Quebecor’s derivative financial instruments grew significantly. The corporation financial asset was recorded at a $585M value in it’s June 30, 2015 quarterly financial statements and at a $943M cost in the corporation third quarter balance sheet. – Carl Dombrowski, NHLNordiques.com
Derivative financial instruments can vary. However, one of its most common form are futures contracts. A futures contract is an agreement between two parties for the sale of an asset at an agreed upon price. One would generally use a futures contract to hedge against risk during a particular period of time.
Ah ha. Makes perfect sense to me. This is the part I (and you) should particularly like.
We would quantify the possibility of these transactions to be closely related with the acquisition of the Nordiques 2.0 to make perfect sense on a financial perspective.
It’s certainly intriguing information nonetheless about Quebec though. If the media conglomerate in Quebec had to go through the whole financial rigamarole of showing the NHL they could indeed afford and maintain a team, one would have to assume the Vegas group had to do the same.
Luckily here in Las Vegas there isn’t even the slightest concern that financials could stand in the way, but it’s still great news to see that things are going on behind the scenes while the league keeps up its patience narrative publicly.