The Toronto Maple Leafs proposed building a $175.5 million, 19,000-seat waterfront arena to replace the 66-year-old Maple Leaf Gardens, the oldest rink in the National Hockey League.
The Leafs have been looking for a new site since a potential agreement with the National Basketball Association’s Raptors fell through. The team’s proposal for Exhibition Place, the former home of the Toronto Blue Jays, has been approved by Exhibition Place’s board of governors.
While team officials have spoken before about moving to a new location, this is the first concrete step they’ve taken toward that end.
“A deal isn’t a deal until the shovel is in the ground. So until we make this final, things can still happen,” said Tom Anselmi, Maple Leafs arena search project director.
The Leafs would open the arena in time for the 2000-2001 season. A team spokesman said the Leafs are negotiating with private investors to raise the money to build it.
It has an option to drop the plan until Feb. 28.
