QMJHL’s Acadie-Bathurst Titan sold to local investors
Investors have agreed to a deal estimated at $3M to buy Acadie-Bathurst Titan
A group of northern New Brunswick investors is teaming up to purchase the Quebec Major Junior Hockey League’s Acadie-Bathurst Titan.
The group of investors, who are planning to buy the Titan, includes 28 people with more expected to join.
But the group may also include five NHL players, such as Vancouver's Roberto Luongo and Patrice Bergeron, who both played for the Titan before starting their professional careers.
The sale price has not been confirmed but it is estimated at more than $3 million.
Darrell Stothart, who is one of the investors, said the deal shows a great deal of co-operation from people across the region.
"I think it means a lot to the region," Stothart said.
"I think this is excellent. I think it is great for the whole region, certainly we know the co-operation is there, we can see by the number of people involved with it."
The investors are buying the team from long-time owner Léo-Guy Morrissette.
The leader of the group, Tracadie-Sheila businessman Leopold Thériault, has been looking for up to 35 investors who would each put in $100,000.
This isn’t the first time the northern New Brunswick junior hockey franchise’s future has been uncertain.
In 2009, there was a possibility the Titan could have relocated to St. John’s but a deal was struck to keep the team in Bathurst.
The Titan started playing in Bathurst in 1998.
- An earlier version of this story said Roberto Luongo and Patrice Bergeron were members of the investment group. The players are not confirmed and are still considered potential investors.Apr 11, 2013 2:15 AM AT