Economic conditions are right for Canada’s existing professional sports clubs to prosper and for new Canadian-based franchises to succeed – including a possible return of professional basketball to Vancouver – over the next 25 years, according to a recent Conference Board of Canada publication.
The publication, What Will the Canadian Pro Sports Scene Look Like in 2035?, assessed the business economics of pro sports using the Conference Board’s long-term national and provincial economic forecasts.
Based on this criteria, the Canadian professional sports scene in 2035 could include a second chance for a National Basketball Association (NBA) franchise in Vancouver.
The board said that with a population forecast to rise to 3.5 million in 2035, the Vancouver market will have the size, wealth and corporate presence to sustain existing franchises in the NHL, CFL and MLS.
Moreover, Vancouver would have in place the market conditions for a professional basketball team to return to the city.
When the Vancouver Grizzlies NBA franchise left in 2001, the Vancouver census metropolitan area had a population of barely two million and the Canadian dollar was sinking. Both those factors have changed.
Mario Lefebvre, director, Centre for Municipal Studies, and co-author of the series, said, “The future is bright for professional team sports in Canada. The Canadian population is expected to continue to grow, and the dollar should remain strong for years to come.
“There is no reason to expect that existing Canadian franchises will move south of the border over the next 25 years. And there is reason to believe that the number of Canadian-based franchises will increase in the future.”
The analysis in this series made use of the four market pillars for professional sports franchise success:
- market size;
- income levels;
- corporate presence; and
- a level playing field.
