According to an Associated Press report via ESPN, a business group based out in Quebec “wants to bring an NBA team to Montreal.”
A former Canadian Minister of International Trade and senator in the Honourable Michael M. Fortier is leading the group. Having spoken to NBA commissioner Adam Silver on Wednesday, Fortier says he has “taken the decision to prepare for when expansion does take place.”
After having met with potential Canadian and foreign investors, Fortier has determined that the franchise would cost anywhere between $1.5-2 billion, but that no public funding would be required.
Last week, ESPN’s senior writer Brian Windhorst would say that NBA expansion would happen in 2025, at the earliest.
The NBA doesn’t have expansion anywhere on its timeline, and Seattle’s arena developments weren’t discussed for a moment at the fall board of governors meeting two weeks ago, league sources said. Some prospective ownership groups that have met with NBA officials have been told expansion may not happen until 2025 at the earliest, when a new TV deal can be negotiated, sources said.
Though Seattle is considered a favorite to land an NBA franchise when expansion begins, Montreal Canadians owner Geoff Molson is open to an NBA team playing at the Bell Centre arena.
Per Bloomberg, Fortier is an experienced lawyer who has practiced in the areas of mergers and acquisitions and corporate finance. The Trudeau Foundation credits him with negotiating the return of Formula One racing to Canada.
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