A group interested in bringing an NHL expansion franchise to Toronto is holding a news conference Friday morning to announce its plans.
Paul Pellegrini of Sussex Strategy, a public affairs company, and Andrew Lopez of the Toronto Legacy Group are scheduled to unveil a name for the team along with a site plan for an arena. A media advisory released today said the group has $1-billion in private financing and would donate a portion of the franchise's profits to charity.
NHL commissioner Gary Bettman has repeatedly said in recent months that the league has no plans for expansion at this time. Jim Balsillie, the billionaire and co-CEO of RIM, is currently in a legal battle with the league to purchase the Phoenix Coyotes and move them to Hamilton.