Naming Rights, Ownership and Management
The GM Centre is currently owned by the city of Oshawa. With an estimated project cost of $45 000 000, the city financed the venue by selling $30 000 000 of the City’s Ownership in the Oshawa Public Utilities Commission Network to TD Bank and issuing $15 000 000 debenture with a 3 year interest free guaranteed by Durham Region.
On October 5th 2006 General Motors was rewarded with the naming rights of the multi-purpose facility and up until 2008 the GM Centre operated in conjunction with MLSE management. On June 30th 2008, Global Spectrum assumed control of the operations and management of the arena. Former Oshawa Mayor John Gray was quoted as saying “MLSE didn’t have their hearts in it,” and “(Hiring Global Spectrum is) certainly a big relief for us.”
Read more about this topic: General Motors Centre
Famous quotes containing the words naming, ownership and/or management:
“The night is itself sleep
And what goes on in it, the naming of the wind,
Our notes to each other, always repeated, always the same.”
—John Ashbery (b. 1927)
“They had their fortunes to make, everything to gain and nothing to lose. They were schooled in and anxious for debates; forcible in argument; reckless and brilliant. For them it was but a short and natural step from swaying juries in courtroom battles over the ownership of land to swaying constituents in contests for office. For the lawyer, oratory was the escalator that could lift a political candidate to higher ground.”
—Federal Writers’ Project Of The Wor, U.S. public relief program (1935-1943)
“No officer should be required or permitted to take part in the management of political organizations, caucuses, conventions, or election campaigns. Their right to vote and to express their views on public questions, either orally or through the press, is not denied, provided it does not interfere with the discharge of their official duties. No assessment for political purposes on officers or subordinates should be allowed.”
—Rutherford Birchard Hayes (1822–1893)