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