in 1998. Eager to increase MLSE’s enterprise value, then-president and chief executive Richard Peddie made a presentation to former National Basketball Association commissioner David Stern about bringing a professional women’s basketball team to Toronto.“It was because we were so green,” Mr. Peddie recounted in an interview. “The truth of it is, we weren’t an expert at running the business side of basketball yet. So, we were turned down and, you know, in hindsight, I think it was right.
With basketball fever gripping the hearts of Toronto fans, and WNBA Commissioner Cathy Engelbert confirming the city is on a short list of potential expansion locations, now is the time for MLSE to take another shot. “If I was CEO of MLSE today, I would much rather have a WNBA team than an Argonaut team,” said Mr. Peddie. “The Argonauts cannot make money. It’s been proven since the days of [co-owner] Bruce McNall … With the WNBA, I do think they can make money.”In fact, three or four years after MLSE’s pitch was rejected, Mr. Stern approached Mr. Peddie “numerous times” to ask if the company was ready yet for a WNBA team.
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