News Article: Lebreton project

[Upgrayedd]

It’s a really common financing method and it’s usually a small dollar amount relative to the overall loan package.

Nothing to see here, seriously. I’m all for calling out Melnyk’s bull**** but this is normal.

Not disagreeing but can you point to any examples of other Canadian businesses proposing and completing a similar scheme?

The concept completely baffles me and id imagine the general public would be fairly disturbed to learn their elected government is allowing businesses to sell citizenship to their country basically for profit.

 

[Mingus Dew]

Not disagreeing but can you point to any examples of other Canadian businesses proposing and completing a similar scheme?

The concept completely baffles me and id imagine the general public would be fairly disturbed to learn their elected government is allowing businesses to sell citizenship to their country basically for profit.

I’m not familiar with the Canadian loan market, like at all. But it’s commonplace in the US.

It’s not really a scheme. There are ways for HNW individuals to fast track their way to citizenship in Canada, no?

 

[Mingus Dew]

Any reason why it was stopped in 2014?

If I am understanding it correctly, looks like a way for someone to just buy their citizenship status. “that allows passive foreign investors to secure permanent-residency status through significant investment of capital.”

That’s exactly what it is.

 

[BankStreetParade]

If you're the government and you are analyzing permanent residency applications, there's always a priority given to people who are going to invest in Canadian businesses or into the economy as a whole.

And it happens all over the world.

Canada even has a fast-track sponsorship program for people who want to be entrepreneurs in Canada. There is nothing new about this. You just don't see it in the news because it's usually a private matter given the sensitivity of people's personal information.

 

[Upgrayedd]

I’m not familiar with the Canadian loan market, like at all. But it’s commonplace in the US.

It’s not really a scheme. There are ways for HNW individuals to fast track their way to citizenship in Canada, no?

I wouldn't know and had always heard and assumed getting citizenship is not that easy and takes many years to accomplish but I have nothing to base it on. We would all be ignorent to believe our government or any government plays by the rules and in fact likely sell off citizenship all the time, but to be able to have a business man do it out in the open like this... fundamentally for me it's hard to think of really any scenario where a person or group should be allowed to buy citizenship in a country under any circumstance.

 

[HSF]

Of course there are preferences given to individuals who will offer something to Canada when it comes to having status here. Financial stability plays a huge role and is part of the system to not strain Canadian resources
It's the same as giving preference to educated individuals who can enter the workforce right away lol

 

[Tnuoc Alucard]

Not disagreeing but can you point to any examples of other Canadian businesses proposing and completing a similar scheme?

The concept completely baffles me and id imagine the general public would be fairly disturbed to learn their elected government is allowing businesses to sell citizenship to their country basically for profit.

Not Citizenship, Canadian immigration (permanent resident) visas

FYI

Canada Investment Immigration Programs - Investment Immigration

 

[Tnuoc Alucard]

I’m not familiar with the Canadian loan market, like at all. But it’s commonplace in the US.

It’s not really a scheme. There are ways for HNW individuals to fast track their way to citizenship in Canada, no?

Not Citizenship, permanent resident status.

 

[OgieO]

Any reason why it was stopped in 2014?

If I am understanding it correctly, looks like a way for someone to just buy their citizenship status. “that allows passive foreign investors to secure permanent-residency status through significant investment of capital.”

You understand correctly. It's big with asians from my experience (I've done numerous deal where they buy into hotels). Sometimes they are even happy to buy into a losing business - just to get into Canada. Never figured out why wealthy asians wanted to become canadian residents so bad, but some do.

 

[OgieO]

Also, for those wondering why the gov't would allow it... $$$

Adding foreign money to Canadian markets is great.

 

[LuckyPierre]

Also, for those wondering why the gov't would allow it... $$$

Adding foreign money to Canadian markets is great.

Worked out wonderfully in Vancouver

 

[Mingus Dew]

Not Citizenship, permanent resident status.

Correct, I should have clarified. EB-5 gets you a green card, not actual citizenship full stop.

 

[topshelf15]

Of course there are preferences given to individuals who will offer something to Canada when it comes to having status here. Financial stability plays a huge role and is part of the system to not strain Canadian resources
It's the same as giving preference to educated individuals who can enter the workforce right away lol

Yep and there is nothing wrong with this ....

 

[Take a Bath Son]

Another official loan announcement...

Senators top up refinancing with new $30M credit facility

 

[Silencio]

Another official loan announcement...

Senators top up refinancing with new $30M credit facility

Needed that cash for the Cody Ceci extension.

 

[coladin]

Another official loan announcement...

Senators top up refinancing with new $30M credit facility

...and there is his top up plan to cover up the low ticket sales. Eugene wins again! Stone and Duchene signings imminent.

 

[Sens of Anarchy]

Another official loan announcement...

Senators top up refinancing with new $30M credit facility

What's with all the loans?

 

[TheNewEra]

LOL

instead of getting the loan and doing something, we are getting a loan for the hard sell to the fans hahaha

 

[Gil Gunderson]

I’ve never seen an organization announce refinancing to the public.

 

[Do Make Say Think]

I’ve never seen an organization announce refinancing to the public.

In the spirit of fairness, have to admit we are the fanbase most interested in this kind of news.

 

[Yak]

While this may be common he better hope for some rich guys wanting to come to Canada and waste their money. EM is not exactly businessman you want to hey in business with unless your desperate. His search for investors has now moved into the desperate long shot territory.

I think the bigger picture of the story is EM does not have the money for a new arena and with his recent refinancing.

I would assume no one will loan him the money either. I find it all amusing till the house of cards EM has built come crashing down on him.

EM will probably be dead or team will be sold before the new arena even opens its doors.

 

[Tuna99]

2- 3 years in?

No permits have been issued, zoning amendments have not be made ........ still waiting on the NCC and the City ....... construction has not started, and probably won't until next summer.

Melnyk: New Ottawa Senators Arena Back on Track - Arena Digest

From a financial perspective, Melnyk made it clear that the team won’t be seeking any funds from the city.


“We are fully capable of funding our portion of what we need to accomplish. I think that, as a team effort here, everything that is required can get done,” Melnyk told reporters, adding that he’s “very confident” about the future of the downtown arena development.


“Some hurdles that have to be overcome, we look at that as challenges as opposed to obstacles,” Melnyk added. “And with the mayor’s leadership here, I have more confidence today than ever. So I’m very confident this is going to go forward.”

Wow, everything he touches turns to gold. The only thing that would convince me more is if there was a quote from Boro in there reaffirming how great an owner he is

 

[Micklebot]

I’ve never seen an organization announce refinancing to the public.

Nashville did it a while back.

 

[Upgrayedd]

Always a good idea to extend your credit card limit with no foreseeable future way to pay it back...another smart move from the owner!

 

[Tnuoc Alucard]

What's with all the loans?

This one is a "short term" line of credit, as explained in the article.

Most Businesses use this type of financing as it's more economical to pay servicing fees or interest, than using their " liquid cash".