Burnaby's Canlan Ice Sports Corp. (TSX:ICE) will supply adult recreational hockey leagues at the Richmond Olympic Oval this fall.
Canlan said it would offer both men’s and women’s divisions in the Adult Safe Hockey League (ASHL) at the Oval.
“The facility is among the finest in North America,” said Joey St-Aubin, Canlan’s president and CEO. “By hosting ASHL games … the oval will be increasingly accessible for use by the community.”
Adult hockey teams at the Oval will be members of the ASHL Pacific Region, which comprises 488 teams at facilities in North Vancouver, Burnaby and Langley.
Canlan is the largest private sector owner and operator of ice sports facilities in North America, and currently owns or manages 22 facilities in Canada and the U.S., including Burnaby 8 Rinks where the Vancouver Canucks practice.
Canlan CFO Michael Gellard said the Oval contract lasts three years, and would cost the company a few hundred thousand dollars a year to rent the ice. The company hopes to launch 50 teams in the first year, and Gellard said the location was a good fit because Canlan’s other buildings are at capacity.
We don’t have any more room to grow in North Vancouver or Burnaby 8 Rinks or Langley,” said Gellard. “We’re taking this model outside of our own buildings, [and] even though we’re paying market rates for the ice there’s still opportunity to make a little money.”
Canlan’s share price range during the last week: unchanged at $2; 52-week high: $2.10; 52-week low: $1.10.