Quebec Solidarity fund interested in funding return of Nordiques

QUEBEC — The Quebec Federation of Labour’s Solidarity Fund has expressed interest in a partnership to help finance the return of the Nordiques hockey team to Quebec City.

Pierre Karl Peladeau, Parti Quebecois leader and controlling shareholder of Quebecor Inc., has suggested that the investment fund tied to the province’s largest labour federation could be a potential investor.

Spokesman Patrick McQuilken said Friday that no formal request has been made by Quebecor, but the fund’s CEO and President Gaetan Morin would study any request “with great interest”.

The workers’ investment fund already has stakes in two Montreal sports teams — the Canadiens and the Impact soccer club. It had also invested in the former Montreal Expos baseball team.

Peladeau has said that it’s not necessary to spend taxpayers money to bring the NHL club back, but that others like the Caisse de depot et placement du Quebec, the province’s pension fund manager, could also invest in a future team.

Quebecor officially submitted a bid in July for an NHL expansion franchise.

Las Vegas and Quebec City were the only expansion applicants to have their bids accepted by the NHL earlier this year. Both advanced to the third stage of the process to land NHL expansion franchises this month.

The NHL isn’t expected to expand until 2017-18 at the earliest.


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