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    Vancouver-Based Aquilini Investment Group Acquires 50 Per Cent Of Vancouver Canucks & General Motors Place
    Wed. Nov 17, 2004

    Vancouver, B.C. - John McCaw, owner of the Vancouver Canucks and General Motors Place, today announced a partnership with Aquilini Investment Group that will help the Canucks forge even stronger ties to the Vancouver community.

    Aquilini Investment Group signed an agreement with Orca Bay Sports and Entertainment to acquire a 50 per cent interest in the Vancouver Canucks and General Motors Place.

    “Today’s announcement signifies an exciting next step for the Vancouver Canucks,” said John McCaw. “I am pleased to establish this unique partnership with Francesco Aquilini and his family. It is clear to me that we share a similar vision and enthusiasm for this franchise. I think this is great news.”

    The shared ownership of Orca Bay demonstrates the truest form of partnership. The parties will equally participate in setting the strategic direction of the company while the existing management team will retain complete responsibility for day-to-day operations.

    “Our investment in the Canucks and Orca Bay makes good business sense for us,” explained Francesco Aquilini, Managing Director, Aquilini Investment Group. “We’ve been looking at the Canucks for almost three years and we like the businesslike approach and ongoing commitment John McCaw has shown to the community. It’s a terrific combination, so we’re really pleased to be joining him and bringing local ownership back to the team.”

    Orca Bay President and Chief Executive Officer, Stanley McCammon believes that local ownership can help further connect the organization with the community.

    “Francesco is a committed citizen of the Vancouver community,” said Stanley McCammon. “We hope to learn from his experiences and build on his relationships to enhance the role that our organization plays in Vancouver and British Columbia. I have known Francesco for several years, and I believe that he and John combine to form a great ownership group.”

    Aquilini will become Alternate Governor of the organization once the National Hockey League approves the agreement. Approval of the transaction is expected to occur by December 31, 2004.

    “The Orca Bay management team has my full support,” added Aquilini. “We’re here as an investor, not as the coach, general manager or president. The Canucks’ front office is strong and professional, one of the big reasons we decided to invest. So, we plan on letting the management team do their job on and off the ice.”



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