Markham Arena Backer Settles Lawsuit

A civil lawsuit filed by a Texas couple in 2006 against Graeme Roustan, a main backer of a $325 million, 20,000-capacity arena project in Markham, Ontario, was settled mid- January.

Photo: Gtacentre.ca

Roustan, head of GTA Sports and Entertainment, was found guilty of statutory fraud stemming from a failed arena deal by a Texas civil court in 2009, but Roustan appealed that decision several times.

Under the agreement, Roustan reportedly agreed to pay the Fort Worth, Texas, couple more than $100,000 including costs and the couple agreed to drop the statutory fraud claim, according to the Toronto Star.

Roustan and partners have been looking to secure private-public financing for the future GTA Centre, which the city would own and share construction costs with GTA Sports, without the promise of a NHL team as a tenant.

The Markham City Council has since rescinded its approval for a public-private financing plan with Roustan, leaving the project in limbo.