Toronto Maple Leafs Tie To New Quinte Project?
Trot Insider has learned that there may be ties between the Toronto Maple Leafs and the highly anticipated New Quinte Exhibition and Raceway
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Baymount announced today that it has entered into a letter of intent with Plaza Gaming and Entertainment Corp. whereby Plaza will acquire a 75 per cent equity interest in the anticipated racino facility in Belleville, Ont.
According to an article by The Belleville Intelligencer, Plaza Gaming and Entertainment is a subsidiary of Toronto-based Kilmer Group. The group’s principal company is Kilmer Van Nostrand Co. which invests mainly in private companies both directly for its own account and indirectly through funds it manages for financial institutions and pension funds. The Kilmer Group invests in areas where its unique mix of skills and experiences derived from its extensive and successful operating and investment activities will enable it to add value to new investment opportunities.
Kilmer Van Nostrand Co. Limited is the private investment holding company of Toronto businessman Larry Tanenbaum.
The Kilmer Group website states that:
"In 1996 Kilmer Group entered the sports and entertainment sector by acquiring a significant interest in Maple Leaf Sports & Entertainment Ltd. which owns the Toronto Maple Leafs of the National Hockey League (NHL), the Toronto Raptors of the National Basketball Association (NBA), the Toronto FC of Major League Soccer (MLS) and the Air Canada Centre. Kilmer also has investments in sports media and production through its investment in Insight Sports Ltd. Insight is a Canadian company specializing in the production and distribution of sports programming, as well as being a founding partner of the NHL Network, a new digital TV channel formed in partnership with the National Hockey League. Insight also launched the World Fishing Network and GOLTV (soccer) in the fall of 2005 and owns the Canadian franchise for Major League Gaming (video gaming)."
To visit the Kilmer Group website, click here.
(With files from The Belleville Intelligencer and The Kilmer Group)
I don't know about anyone
I don't know about anyone else, I just want to race somewhere within 50 miles of home.In the words of Larry Git R Done
So let me get this straight.
So let me get this straight. What this means is the racetrack at Belleville will probably be complete about the next time the Leafs win the Cup.
Seems like the Monty Python
Seems like the Monty Python dead parrot skit is being played out in real life. Baymount is the partner and contractor but it had no money so the project has been in limbo for 3 years. Seems that Baymount owns the land but couldn't sell it and couldn't find the money to develop. Now sells 75% equity in the non project to Kilmer. This effectively has Baymount and not the Ag society/City of Belleville changing the partnership in the non project to Kilger for undisclosed amount of money (maybe enough to pay for the land and some extra profit?). Effectively, the penniless partner has succeeded in taking control over the money matters and partnership decisions. At least in Monty Python's dead parrot skit, they were actually selling a parrot, albeit a dead one. In Baymounts case, they sold dead air to the city/Ag Society, then resold 75% their newly acquired dead air project to another buyer that the Ag society has no say over. The only thing missing in this saga is a guy in a plaid jacket standing on the vacant land calling out "hey rube" have I got a deal for you.
Wow what great news, the
Wow what great news, the most overhyped innept builder and investor has now gotten on board the worst run hockey team in the NHL, talk about a match made in heaven. Mr Rollins get control bring this project back home find the investors to make this happen, keep it local but get the ball rolling.This once again is just a publicity stunt by Baymount,another promise, another teaser to keep people of the quinte area thinking it could happen
In reply to Wow what great news, the by john chatterson
I agree there's reason to be
I agree there's reason to be skeptical but....While the Maple Leafs may be one of the worst teams on ice they are anything but losers on the balance sheets. Since it's doubtful Baymount could get this thing done on their own there's no reason to not welcome this developement, IF in fact it takes place.