A plan to build a $30-million Toronto Raptors practice facility at the Exhibition Place has been approved by the executive committee.
The deal, which was passed unanimously Wednesday morning, will now go before council next week for final approval. It will be the last meeting of this term before the Oct. 27 municipal election.
The proposed facility will replace the smaller one at the Air Canada Centre. Maple Leaf Sports and Entertainment (MLSE) CEO Tim Leiweke said Wednesday’s decision will be welcomed by the Raptors.
"This is a good day for everybody and I think the players in particular are going to be very pleased. They deserve a world-class facility," Leiweke told reporters. "There are a lot of new practice facilities that have been built recently, but I don't think there is another facility in the NBA that will be situated in such a beautiful location."
Under the terms of the plan, Raptors' owner MLSE will foot the construction and operating costs of the facility. It will lease the 1.4 acre plot of land from the city for $205,000 a year, under a 20-year contract. During this time, the Raptors will share the facility with the public. It will be made available for community use during the daytime and evenings.
If the proposal is okayed by council, the two-court facility will be up and running by 2016, when Toronto will host the NBA all-star game.
