Quebec Arena Cash Infusion

Hockey lovers in Quebec City have long clung to the dream of building a new arena to entice an NHL team back to their city. An announcement by the head of a Canadian media company may be just the thing to spur such a development.

Quebecor Inc. CEO Pierre-Karl Péladeau recently announced his company has offered up millions of dollars toward the construction and management of a new venue in Quebec, according to the CBC.

The $400 million, 18,000-capacity proposal reportedly already has the support of municipal and provincial governments but is still seeking the federal government’s blessing.

Christian Paradis, a lieutenant for Prime Minister Stephen Harper, told the CBC that while Quebecor’s interest is “promising,” additional private-sector investments are needed before the federal government backs the project.

The city’s existing Colisee Pepsi arena opened in 1949 and has been called “a relic from another era” by Mayor Regis Labeaume.
NHL Commissioner Gary Bettman previously hinted that a new arena could make the city more competitive should a franchise decide to relocate.