If Markham is to get an NHL-ready arena, it won't be on the taxpayers' dime.
City council voted 11-2 against public funding for the arena, meaning Graeme Roustan's company GTA Sports will need to find private partners for the proposed arena.
Roustan had an agreement to build a 20,000 seat arena in Markham for $325 million with his company sharing the costs with the city. But in a unanimous vote, Makham city council rescinded that deal, according to a report from the Globe and Mail.
Roustan said his next step is to have his new memorandum of understanding, which the Globe and Mail reported will bring GTA Sports' financial commitment closer to $200 million, be looked at by a sub-committee. If that is rejected, Roustan said it's back to the drawing board or the project is dead.