Item - 2025.EP16.16

The Board of Governors of Exhibition Place:  

1. Subject to obtaining the necessary City of Toronto authorization, approved a new license agreement (the "License") between the City of Toronto, as Licensor (the "City"), Maple Leaf Sports & Entertainment Partnership, as Licensee, and the Board, for a term of ten (10) years and eleven (11) months commencing August 1, 2024 and ending June 30, 2035 with an automatic coterminous extension if the Licensee, as subtenant, exercises its right to extend the sublease of premises at the Coca Cola Coliseum for a further ten (10) years expiring June 30, 2045, substantially on the terms and conditions set out in Appendix "A" and Confidential Attachment 1 to the report (April 10, 2025) from the Chief Executive Officer, Exhibition Place, and such other and amended terms and conditions deemed appropriate by the City's approving authority and the Chief Executive Officer, Exhibition Place (the "CEO"), and in a form satisfactory to the City Solicitor.

2. Authorized the Chief Executive Officer to request the necessary City authorities to approve and enter into the License Agreement.

3. Directed that the confidential information contained in Confidential Attachment 1 to the report (April 10, 2025) from the Chief Executive Officer, Exhibition Place, remain confidential, as this report deals with a proposed or pending acquisition or disposition of land by the City and the Board.

The Board considered the following items together: EP16.15 headed “Lease of West Annex Office Space”; and EP16.16 headed “License Agreement West Annex Team Space”.

This report recommends that, subject to obtaining the necessary City approvals, The Board of Governors of Exhibition Place (the "Board") enter into a ten (10) year and eleven (11) month license agreement (the "Licence") with the City of Toronto, as Licensor, and Maple Leaf Sports & Entertainment Partnership (the "Licensee") for certain premises (the "Team Space") in the West Annex of the Enercare Centre, commencing August 1, 2024, and ending on June 30, 2035. The License will be coterminous with the sublease between BPC Coliseum Inc. and the Tenant dated June 16, 2005, as amended and extended by a Sublease Extension and Amending Agreement dated July 1, 2025, and consented to by the City and the Board, as head landlord (collectively, the "Sublease").

In the event the Licensee, as subtenant, exercises its option to extend the Sublease for the ten (10) year period from July 1, 2035 to June 30, 2045, the term of the Licence will automatically be extended for the same period.