| || |
Teaching money on ice
March 29, 2011 - John D'Agostino
It is no secret that Canada loves its hockey. It's also no secret that when it comes to playoff appearances in the last eight years, the Toronto Maple Leafs have been dreadful.
On March 29, the Buffalo Sabres and Leafs played the last of their six-game annual series. Teachers across Canada — current and retired — have a large stake in the Leafs’ performance. And it is not all emotional.
Maple Leafs Sports and Entertainment Ltd., owner of the Leafs, gets a huge investment from the Ontario Teachers’ Pension Plan. In 1994, the teachers bought 49 percent of the group and in 2009, it increased its stake to 66 percent. Speculation earlier this month was the Teachers were shopping its stake in the team to Canada cable giant Rogers.
Even with the dismal eight years of hockey, the Maple Leafs are still one of the NHL’s most profitable teams — but nowhere near as profitable as the Pension Plan, which has more than $100 billion in assets.
So, it appears, even when the Maple Leafs lose, Canada’s teaching contingent wins.
No comments posted for this article.
Post a Comment
Even if Dion Phaneuf (3) does not score, Canada’s teachers win.