New Brunswick
A local group is hoping to start a co-operative so that it can purchase part of the Acadie-Bathurst Titan junior hockey team. It was announced last month the northern New Brunswick team is up for sale.
Co-operative hopes to sell 1,000 shares at $1,000 per share
Isabelle Leger · CBC News
· Posted: Feb 19, 2024 5:35 PM EST | Last Updated: 5 hours ago
The Acadie-Bathurst Titan junior hockey team started playing in New Brunswick in the 1998-99 season and has attracted people to the Chaleur region ever since, says fan Ed MacDermaid. (Francois LeBlanc/Radio-Canada)A local group is hoping to start a co-operative so that it can purchase part of the Acadie-Bathurst Titan junior hockey team.
Ed MacDermaid is a member of the group, which announced its proposal at a public meeting on the weekend.
It was announced last month the northern New Brunswick team is up for sale.
MacDermaid said the team’s goal is to sell 1,000 shares at $1,000 dollars each, to make the team financially viable and intrigue some larger investors.
“The opportunity to find an investor who is willing to partner with the community and keep the team here seems like it could be a good fit,” he said.
MacDermaid has been a fan of the Titan hockey team for 26 years and now sits on the committee hoping to purchase a portion of team with community support. (Lars Schwartz/CBC)MacDermaid said shareholders will receive perks, including deals on season tickets and access to special events.
“The real benefit that we see is the ability to participate in the ongoing administration of the team, getting to know exactly what goes on, having a seat at the table and being able to bring more community involvement to the organization,” he said.
He said the co-operative would have one or two seats on the board of directors and said the team would remain in the Chaleur region.
MacDermaid said the hockey team has had a significant impact on the local economy since it began playing in New Brunswick in 1998.
“People from outside [the city] were coming to the games, the restaurants and even the hotels and the recognition nationally,” said MacDermaid.
MacDermaid says he’s hoping enough community investment would attract a big investor to support the team. (Francois LeBlanc/Radio-Canada)He said he’s been a dedicated fan for the past 26 years and was one of the first to purchase a box with some friends when the team arrived.
“We really look forward to the season… it’s a great way to pass the winter season,” he said.
ABOUT THE AUTHOR
Isabelle Leger is a reporter based in Fredericton. You can reach her at isabelle.leger@cbc.ca
