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Group seeks investors for Montreal NBA team, even though no expansion planned

Oct 10, 2018 | 1:30 PM

MONTREAL — A group of Quebec businesspeople has taken another small step toward bringing a National Basketball Association franchise to Montreal — even though there are currently no plans for an expansion of the league.

Representatives of the group held a news conference today to announce that they have been preparing a financial package and talking to potential Canadian and foreign investors.

Former federal cabinet minister Michael Fortier, a key member of the group, acknowledges that in the short term the NBA is not considering adding a team to the 30 already in place. But the goal is to be ready when the opportunity arrives.

Fortier estimates an NBA franchise would cost between $US1.5 billion and US$2 billion, but no public funding would be required.