When will I get the $300 ViDoc?
The NHL Players Association is hoping to raise $300 million in funding for the next decade, and that’s coming from its new venture partners.
The organization will use the funds to pay off debt and help fund the next chapter of its hockey history.
The deal is part of a $4 billion NHL expansion effort that includes two expansion teams in St. Louis and Los Angeles, plus a third in Quebec City, which is set to be the city of the future for the NHL.
But the league has been waiting to get its $1.5 billion new arena deal done, with a few more years of negotiations still to come.
That’s about to change, though.
The new partners announced Wednesday that they will be the first to take the wraps off the deal, and it will be done on Friday, Nov. 4.
“We are proud to announce our next major investor to the NHL Players association,” the two companies said in a joint statement.
“Vetter Software is one of the leading partners in the NHL, and we are proud that they have been a trusted partner throughout this process.”
The two companies have been building a partnership with Vetter for the past few years, and they are looking forward to working together on the deal.
“Vetters vision for the future is an exciting new one for us, and Vetter’s commitment to the hockey world will always be a priority,” said Jim Soderholm, chairman of the Vetter board of directors.
“The Vetters ownership team and its global network of partners have been at the forefront of innovation and innovation-driven investment for years, including on the expansion process, so it is an honor to work with them on the next phase of this exciting project.”
The announcement was made at the NHL’s annual meeting in Sunrise, Fla.
It’s not clear when the new partners will announce their participation in the deal — but the announcement is expected to come soon.
The deal is expected for a minimum of a year and a half, and there are no specific dates attached to it.
“It’s a great opportunity for the players to have the opportunity to work closely with a great company, one of our most trusted partners,” said NHL commissioner Gary Bettman.
“The Vetter group is one that is well known in the hockey community and has long been respected by both the players and the league.”
The deal will see Vetter acquire the NHL franchise in St Louis, as well as a franchise in Los Angeles and a two-year lease at the new downtown St. Paul arena in St Paul, Minnesota.
The teams will play each other in a regular season that begins Nov. 29.