WINNIPEG — The Canadian dollar's recent fall threatens Quebecor Inc's bid to bring back Quebec City's beloved National Hockey League franchise, the Nordiques, by increasing costs.
Montreal-based Quebecor, a telecommunications and media company, submitted its bid in July, vying with Las Vegas for a team that may start play in 2017.
When Quebecor struck a deal in 2011 to manage Quebec City's new 18,259-seat Videotron Arena as it began talks with the NHL about a franchise, the Canadian dollar was trading at a slight premium to its American counterpart.
The currency has since been hit hard by falling energy and commodity prices.