Stéphan Crétier, founding president and CEO of GardaWorld, main Quebec investor

MONTREAL, Oct. 10, 2018 /CNW Telbec/ - A group of Quebec business people supported by the Chamber of Commerce of Metropolitan Montreal (CCMM) has begun the process to establish a professional basketball team in Montreal. The Honourable Michael Fortier and Kevin Gilmore are part of the group. Stéphan Crétier, founding president and CEO of GardaWorld, the key investor in the project, has agreed to put in up to 10% of the value of the new team.

At a press conference, CCMM president and CEO Michel Leblanc announced that his organization would support the group in its efforts to attract investors and spark the interest of National Basketball Association (NBA) officials. The announcement came a few hours before the exhibition game between the Toronto Raptors and the Brooklyn Nets at the Bell Centre in Montreal, where a crowd of about 20,000 was expected.

The group has already expressed interest to the NBA, but a number of steps remain before bringing a team to Montreal. The Quebec group is currently working on preparing a financial package and is setting up meetings with potential Canadian and foreign investors. Project partners have conducted detailed analyses demonstrating that Montreal is a high potential candidate and have prepared a case study on Montreal's appeal as a location for a new NBA team.

"The NBA is not considering adding a team to the 30 already in place in the short term. Our goal is instead to be ready the day that opportunity comes along," said Mr. Fortier.

"Montreal is a city that undeniably has what it takes to host a professional basketball team," said Mr. Leblanc. "We have a robust economy, low unemployment, and a high confidence index. It's good news that community leaders are putting forward exciting projects reflective of a vibrant and growing metropolis. The Chamber's role is to rally actors in the business community who want to get involved and invest in such projects and to support them in the process."

Although a significant outlay is needed for the project, no public funding will be required for its implementation.

Key project investor Stéphan Crétier said, "A sports project of this magnitude can only make Montreal more vibrant. Sports are extremely popular with Quebecers, and basketball is no exception. I am committed to enhancing Montreal's reputation, and I know the city will enthusiastically welcome another professional sport with an NBA team." Known as a global citizen, Mr. Crétier added, "I have seen the growing popularity of basketball internationally, and I'd be delighted to be a part of bringing the NBA to my hometown."

The advantages of Montreal

"According to a study comparing the 49 North American cities with at least one NHL, NBA, NFL, or MLB team—based on demographic, economic, cultural, and other indicators—Montreal ranks 7th in appeal," said Mr. Gilmore. "The top 10 cities, which include Montreal, have an average of over four teams in these major leagues. Montreal has only one. This gives us confidence that our analysis is accurate, even conservative, in terms of the economic performance of an NBA team in Montreal."

The group of business people is hopeful that Montreal will be of interest to NBA senior management, NBA team owners, and investors for the following reasons:

Montreal has a higher attractiveness index than 22 other cities that already have NBA teams, according to a study by the group (market attractiveness index, MAI).

Based on reports from Forbes for the 2016–2017 season on NBA club revenue and profitability, Montreal has characteristics similar to those of the markets of eight of the 10 top-earning teams in the league. This correlation shows that the attractiveness ranking as a tool for assessing market potential speaks for itself and that Montreal appears to be doing very well in this regard.

In terms of demographics, Montreal has everything it takes to host an NBA franchise, including a multicultural, young, and urban population similar to the demographics of NBA fans.

The healthy competition that would undoubtedly develop between Toronto and Montreal would help boost the popularity of a team in Montreal and of basketball in Canada , not to mention the rivalry that could also develop with other basketball cities near Montreal like New York and Boston.

and Montreal would help boost the popularity of a team in and of basketball in , not to mention the rivalry that could also develop with other basketball cities near Montreal like New York and Boston. In addition to being world renowned for its high tech, video game, and artificial intelligence sectors, Montreal is known as a sports city, and basketball is the second most popular sport in the world.

Approximately 15% of Canadian companies are headquartered in Montreal , which shows that the city has the economic potential to host a team.

SOURCE Chamber of Commerce of Metropolitan Montreal

For further information: Marie-Christine Garon, NATIONAL Public Relations firm, [email protected] , 514-409-0031

Related Links

http://www.ccmm.qc.ca

