Jump to content

True North Sports & Entertainment

Edit links
From Wikipedia, the free encyclopedia

This is the current revision of this page, as edited by GreenC bot (talk | contribs) at 07:26, 3 September 2024 (Move 1 url. Wayback Medic 2.5 per WP:URLREQ#www.cbc.ca/redirects). The present address (URL) is a permanent link to this version.

(diff) ← Previous revision | Latest revision (diff) | Newer revision → (diff)

True North Sports & Entertainment Limited
Company typePrivate
IndustryProfessional sports, property management, entertainment
Founded2001
Headquarters345 Graham Avenue
Winnipeg, Manitoba
R3C 5S6
Key people
  • Mark Chipman, Chairman & Governor
  • John Olfert, President & COO
Products

Formerly
St. John's IceCaps (AHL), 2011–2015
OwnerMegill-Stephenson Co.
Osmington Incorporated
Number of employees
400
SubsidiariesTrue North Youth Foundation
Websitetnse.com

True North Sports and Entertainment Limited (TNSE or TNS&E) is a Canadian company based in Winnipeg, Manitoba, that owns and operates Canada Life Centre in downtown Winnipeg and the Winnipeg Jets of the National Hockey League. The company also owns the Jets' minor league affiliate, the Manitoba Moose of the American Hockey League. Aside from hockey, TNSE is also involved in real estate with True North Square, and are active in bringing concerts and other acts to Winnipeg.

History

[edit]

True North Sports and Entertainment was founded in 2001 by Manitoba Moose co-owner Mark Chipman and several local investors. Their goal was to build a new entertainment and sports venue in downtown Winnipeg to help revive the city's downtown area and possibly one day bring an NHL franchise back to Winnipeg following the departure of the original Winnipeg Jets franchise to Phoenix, Arizona in 1996.[1][2] Ownership of the Moose was transferred to TNSE in 2003.[3]

The 15,321-seat MTS Centre (later Bell MTS Place and now the Canada Life Centre) was completed in fall 2004 and became the new home of the Moose, replacing the Winnipeg Arena. The Centre was built at a cost of $133.5 million on land acquired from Osmington Incorporated, a real estate firm owned by Toronto billionaire David Thomson. In exchange for the land, Osmington took a minority share in TNSE. Chipman and Thomson, through their respective holding companies, now have complete ownership of TNSE.[1][4][5]

In summer 2010, TNSE opened the MTS Iceplex, an arena and training complex located on the western edge of Winnipeg.[6]

TNSE realized its goal of landing an NHL franchise in May 2011, when it purchased the struggling Atlanta Thrashers, subsequently relocating the club to Winnipeg and renaming it the Winnipeg Jets. As a result, the Moose were relocated to St. John's, Newfoundland and Labrador for the 2011–12 season and rebranded as the St. John's IceCaps, and became the top minor league affiliate of the Jets.[6][7][8] Although the IceCaps were successful both on and off the ice, TNSE opted to return the club back to Winnipeg for the 2015-16 season. The second incarnation of the Manitoba Moose now share the MTS Centre with their NHL parent club and are one of only two AHL teams to have this arrangement,[9] and will be the only one after the San Jose Barracuda move to TechCU Arena for the 2022-23 season.

Bringing the NHL back to Winnipeg

[edit]
Original logo of TNS&E, which was used until 2015

In January 2007, Mark Chipman was invited to meet with NHL executives, including commissioner Gary Bettman, in New York to make a presentation about bringing an NHL team to Winnipeg, either through expansion or relocation. TNSE was not alone—the NHL also met with interested parties from Houston, Kansas City, Seattle, and Las Vegas, but were most impressed by the presentation from the Winnipeg group. Both Vegas and Seattle eventually got expansion teams in later years, with the former getting the Golden Knights in 2017 and the latter in 2021 with the Kraken. [10]

In 2009, Bettman approached Chipman about the possibility of taking over the struggling Phoenix Coyotes. The Coyotes were on the verge of declaring bankruptcy and were purchased by the league out of bankruptcy court later that year. In October, Chipman made a second presentation to the league about relocating a team to Winnipeg.[11] The Coyotes ownership issue remained unresolved in May 2010. As the league was not prepared to cover the team's losses for another season, the league executive reached a tentative agreement to sell the Coyotes to TNSE, allowing them to relocate the franchise back to Winnipeg. This was intended as a back-up plan, as the league's first choice was to keep the team in Arizona. With no other investors in place, the league asked the City of Glendale to cover the Coyotes losses for the 2010–11 season. Facing a tight deadline, city council voted in favor of the deal rather than risk losing the primary tenant of their arena.[11] According to Chipman, TNSE came "within ten minutes of acquiring (the Coyotes)".[12]

After a failed bid to sell the team to Matthew Hulziser, the NHL and TNSE resumed their negotiations in spring of 2011. Glendale city council decided to cover the team's losses for another year, so TNSE shifted their focus on another opportunity—to acquire the Atlanta Thrashers from the Atlanta Spirit group. On the morning of 31 May 2011, the sale was finalized and announced at a press conference held at the MTS Centre. The sale and relocation of the team to Winnipeg was approved by the NHL Board of Governors on June 21.[13] Mark Chipman confirmed that the team would be known as the Jets at the 2011 NHL Entry Draft on June 24.[14] The Jets played their inaugural game on October 9, 2011 in front of a sold-out crowd at the MTS Centre, losing 5–1 against the Montreal Canadiens.

Although the Jets did not qualify for the Stanley Cup playoffs in their first season, the team was very successful off the ice. It was widely believed that the Jets, playing in the league's smallest market, would require assistance through the NHL's revenue sharing program to be financially viable. However, the team's revenues in 2011–2012 exceeded expectations to the extent that they did not qualify.[15] According to Forbes' 2012 NHL financial report, the Jets generated $105 million US in revenue during their inaugural season, 16th best in the league, and posted operating income of $13.3 million.[16] According to Forbes' 2013 report, the value of the franchise doubled within two years of TNSE's acquisition in 2011.[17]

A tradition among Jets fans in recent years is to shout the lyrics "True North" during the singing of O Canada prior to games, presumably in recognition of the ownership group which brought the NHL back to Winnipeg.

Assets

[edit]

Assets currently owned by True North Sports & Entertainment include:[18]

Former assets include:

  • MTS Centre Exhibition Hall, 2010–2011
  • St. John's IceCaps, 2011-2015, an AHL team. This was a joint venture with [[Danny Williams (Canadian politician)|St. John's Sports and Entertainment,

also from 1997 to 2024 True North Sports & Entertainment Owned the National Hockey League´s NHL Winnipeg Jets Franchise.

True North Square

[edit]
Main article: True North Square

True North Square is a plaza under construction in downtown Winnipeg. It is a joint venture between TNSE and James Richardson & Sons and is being constructed at the site of the former Carlton Inn hotel, which True North purchased in June 2015 following months of negotiations with the city.[19][20] The heart of the project is a two-acre public park which will include green space and a public stage. Construction of the public portion of the plaza which will be partially funded by the provincial and city governments as will connecting the buildings to the Winnipeg Walkway.[21]

The remainder of the plaza will include four mixed-used towers being constructed adjacent to the park, which will house a luxury hotel, office and retail space, and residential units. The towers, estimated at a cost of CA$400 million, was planned for completion in 2019.[22]

Burton Cummings Theatre

[edit]
Main article: Burton Cummings Theatre

The Burton Cummings Theatre for the Performing Arts is a 1,600-seat former vaudeville theatre-turned-music venue in downtown Winnipeg. TNSE assumed management of the venue in 2014 through a lease agreement with the not-for-profit theatre's board of directors. Under this arrangement, TNSE also commenced with badly needed repairs and upgrades to the building.[23] In 2016, TNSE exercised its option to purchase the building.

MTS Centre Exhibition Hall

[edit]

The MTS Centre Exhibition Hall was an exhibition centre operated by TNSE from 2010 to 2011. It was located in the now-demolished A&B Sound building across the street from Canada Life Centre and hosted three exhibits during its existence. The first show, the controversial Bodies: The Exhibition, ran from September 2010 to January 2011.[24] Titanic: The Artifact Exhibition, produced by RMS Titanic Inc., ran from February to July 2011. It featured close to 200 of the over 5,500 collected artifacts from the doomed ocean liner.[25] The final show, Da Vinci the Genius, ran from August to November 2011.

True North Youth Foundation

[edit]
True North Youth Foundation
FormationOctober 9, 1996
TypeNonprofit
Services
Executive Director
Dwayne Green
Websitetruenorthyouthfoundation.com
Formerly called
  • Manitoba Moose Yearling Foundation (1996-2011)
  • Winnipeg Jets True North Foundation (2011-2016)

The True North Youth Foundation (TNYF), formerly the Manitoba Moose Yearling Foundation, is a non-profit organization created by TNSE in 1996. The foundation raises funds for charitable causes and also runs its own projects: Camp Manitou, a children's summer camp; Winnipeg Jets Hockey Academy, a youth hockey school; and Project 11, a program promoting mental wellness in schools and youth groups.[26][27]

Project 11, led by TNSE senior vice-president Craig Heisinger, was created in response to the death of Rick Rypien, a former Manitoba Moose player who suffered from severe depression.[27]

Following a through audit, the Canadian charity watchdog group Charity Intelligence discovered that True North Youth Foundation was keeping most of the money from donations without returning it to the communities they were supposed to serve. Charity Intelligence’s researchers look at audited financial statements, not tax returns, and present the numbers in a way that makes comparisons possible. Their figures are the most complete and accurate information about charity finances in the country.

References

[edit]
  1. ^ a b "Winnipeg Jets deal: the investors who made it happen". CBC.ca. May 31, 2011. Retrieved June 9, 2011.
  2. ^ "Chipman's plight to return the NHL to Winnipeg". Rogers Sportsnet. May 31, 2011. Retrieved June 9, 2011.
  3. ^ "MTS Centre: Quick Facts". www.mtscentre.ca. Retrieved June 9, 2011.
  4. ^ "Thomson not rich because he's stupid". Winnipeg Free Press. May 21, 2011. Retrieved June 14, 2011.
  5. ^ "New owner Thomson cares about hockey". Winnipeg Sun. May 31, 2011. Retrieved June 14, 2011.
  6. ^ a b c "Mooseplex renamed MTS Iceplex". CBC.ca. April 9, 2010. Retrieved January 5, 2011.
  7. ^ "AHL APPROVES MOVE OF MANITOBA MOOSE TO ST. JOHN'S, NL". Retrieved June 10, 2011.
  8. ^ "True North buys Thrashers, set to move them to Winnipeg". The Sports Network. May 31, 2011. Retrieved June 1, 2011.
  9. ^ "Moose 2.0? True North will move AHL franchise back to Winnipeg". Winnipeg Free Press. March 12, 2015.
  10. ^ "Peg still on NHL's map". Winnipeg Free Press. May 17, 2009. Retrieved June 18, 2011.
  11. ^ a b "Anatomy of an NHL deal". Toronto Sun. June 1, 2011. Retrieved June 18, 2011.
  12. ^ "Winnipeg came within 10 minutes of getting the Coyotes". Winnipeg Free Press. June 17, 2011. Retrieved June 18, 2011.
  13. ^ "NHL board of governors confirms Winnipeg team". Winnipeg Free Press. June 21, 2011. Retrieved June 21, 2011.
  14. ^ "NUGENT-HOPKINS GOES FIRST, JETS TAKE SCHEIFELE IN NHL DRAFT". TSN.ca. June 25, 2011. Retrieved June 24, 2011.
  15. ^ "Jets will not need NHL's revenue-sharing". Winnipeg Free Press. April 6, 2012. Retrieved May 5, 2012.
  16. ^ "NHL Team Values 2012". Forbes. November 28, 2012.
  17. ^ "Jets now worth twice what Chipman, Thomson paid: Forbes". Winnipeg Free Press. November 25, 2013.
  18. ^ a b c "Our Portfolio". True North Sports + Entertainment. Retrieved July 19, 2021.
  19. ^ "TNSE Formally Announces True North Square". TrueNorthSquare.com. Retrieved February 25, 2016.
  20. ^ "True North confirms it will buy downtown land to build True North Square". CBC News. June 1, 2015.
  21. ^ "True North Square anchors itself on luxury hotel, bank and booze". CBC News. February 24, 2016.
  22. ^ "Bold plans introduced for True North Square". Winnipeg Free Press. February 24, 2016.
  23. ^ "True North takes over Burton Cummings Theatre in Winnipeg". "CBC.ca". May 12, 2014.
  24. ^ "True North unveils new exhibition hall". Winnipeg Free Press. August 11, 2010. Retrieved June 27, 2011.
  25. ^ "Titantic stays on at exhibition hall". Winnipeg Free Press. June 17, 2011. Retrieved June 27, 2011.
  26. ^ "Our History". True North Youth Foundation. Retrieved July 19, 2021.
  27. ^ a b "Rypien would have loved mental wellness summit, says Jets assistant GM". Winnipeg Free Press. January 31, 2018.
[edit]
Retrieved from "https://en.wikipedia.org/enwiki/w/index.php?title=True_North_Sports_%26_Entertainment&oldid=1243757528"