Bruce Firestone
Encyclopedia
Bruce Firestone of Ottawa
, Ontario, Canada is a real estate developer, former sports team owner and university professor. He is the founder of the modern-day Ottawa Senators
NHL
professional ice hockey
club and former part-owner of the Ottawa Rough Riders
CFL
football
club.
Ottawa Senators
When the NHL announced that it was interested in expanding in the late 1980s, Bruce, then president of Terrace Investments, formed an organization to win an NHL franchise for Ottawa. Bruce's vision was to use the club as the centerpiece of a new commercial development to the west of the City of Ottawa. A new arena would be built, increasing land values in the surrounding area to the point where the expected franchise fee of $30 million US dollars (it would actually be $50 million) could be raised through land sales and commercial development fees and profits.
Bruce's group was successful in winning a new franchise, along with the Tampa Bay Lightning
, on condition that the franchise would build a new arena to NHL standards.
The arena location, on undeveloped farmland, was controversial and opposition grew against the paving over of the farmland. Eventually, the government agency responsible for local development allowed the development of the arena but not the surrounding lands.
As well, as part of the development agreement for the new arena, then known as the Palladium
, the Ontario government required that the corporation pay for all of the required infrastructure, including a freeway interchange.
These conditions led to the search for new financing. The search led to the turnover of the ownership of the Ottawa Senators to a partnership led by Rod Bryden
. Mr. Bryden was able to arrange financing of the development through a partnership with Ogden Entertainment and Bruce left to allow the franchise to continue.
Ottawa Rough Riders
After leaving the Senators organization, Firestone became chairman and part-owner of the Ottawa Rough Riders Canadian Football League football team. After one year with the organization it was sold to another ownership group and Firestone returned to real estate development.
Exploriem
In 2004, Firestone founded Exploriem.org, a registered Canadian Not-For-Profit Professional Entrepreneurs and Intrapreneurs Organization. He is the Executive Director of the organization which helps entrepreneurs and start-ups get a foothold in the local business community through business model competitions, funding, mentoring, and providing free office space. Exploriem
is also partnered with OCRI (Ottawa Centre for Research and Innovation), Algonquin College, Lead to Win and others within the Ottawa business community.
Current
Today, Firestone is an entrepreneur-in-residence at the Telfer School of Management at the University of Ottawa
and a commercial real estate agent. He writes regularly on his personal 'blog' on business topics. As well he has written the Entrepreneurs Handbook which is guide to help entrepreneurs get started using the bootstrap method and starting with a good business model.
Ottawa
Ottawa is the capital of Canada, the second largest city in the Province of Ontario, and the fourth largest city in the country. The city is located on the south bank of the Ottawa River in the eastern portion of Southern Ontario...
, Ontario, Canada is a real estate developer, former sports team owner and university professor. He is the founder of the modern-day Ottawa Senators
Ottawa Senators
The Ottawa Senators are a professional ice hockey team based in Ottawa, Ontario, Canada. They are members of the Northeast Division of the Eastern Conference of the National Hockey League...
NHL
National Hockey League
The National Hockey League is an unincorporated not-for-profit association which operates a major professional ice hockey league of 30 franchised member clubs, of which 7 are currently located in Canada and 23 in the United States...
professional ice hockey
Ice hockey
Ice hockey, often referred to as hockey, is a team sport played on ice, in which skaters use wooden or composite sticks to shoot a hard rubber puck into their opponent's net. The game is played between two teams of six players each. Five members of each team skate up and down the ice trying to take...
club and former part-owner of the Ottawa Rough Riders
Ottawa Rough Riders
The Ottawa Rough Riders were a Canadian Football League team based in Ottawa, Ontario, founded in 1876. One of the oldest and longest lived professional sports teams in North America, the Rough Riders won the Grey Cup championship nine times. Their most dominant era was the 1960s and 1970s, a...
CFL
Canadian Football League
The Canadian Football League or CFL is a professional sports league located in Canada. The CFL is the highest level of competition in Canadian football, a form of gridiron football closely related to American football....
football
Canadian football
Canadian football is a form of gridiron football played exclusively in Canada in which two teams of 12 players each compete for territorial control of a field of play long and wide attempting to advance a pointed prolate spheroid ball into the opposing team's scoring area...
club.
Business career
Dr. Firestone received his Bachelor of Civil Engineering degree from McGill University in Montréal; his Master of Engineering-Science (Traffic and Transportation) from the University of New South Wales in Sydney and his PhD in Urban Economics from the Australian National University in Canberra. After graduating from university in Australia, Firestone joined the family firm Terrace Developments in the early 1980s. Along with developing commercial properties, Firestone also launched a business newspaper in Ottawa and built several buildings in downtown Ottawa and in Bells Corners.Ottawa Senators
When the NHL announced that it was interested in expanding in the late 1980s, Bruce, then president of Terrace Investments, formed an organization to win an NHL franchise for Ottawa. Bruce's vision was to use the club as the centerpiece of a new commercial development to the west of the City of Ottawa. A new arena would be built, increasing land values in the surrounding area to the point where the expected franchise fee of $30 million US dollars (it would actually be $50 million) could be raised through land sales and commercial development fees and profits.
Bruce's group was successful in winning a new franchise, along with the Tampa Bay Lightning
Tampa Bay Lightning
The Tampa Bay Lightning are a professional ice hockey team based in Tampa, Florida. They are members of the Southeast Division of the Eastern Conference of the National Hockey League . They have one Stanley Cup championship in their history, in 2003–04. They are often referred to as the...
, on condition that the franchise would build a new arena to NHL standards.
The arena location, on undeveloped farmland, was controversial and opposition grew against the paving over of the farmland. Eventually, the government agency responsible for local development allowed the development of the arena but not the surrounding lands.
As well, as part of the development agreement for the new arena, then known as the Palladium
Scotiabank Place
Scotiabank Place is a multi-purpose arena, located in Kanata, a suburban district of Ottawa, Ontario. It is home to the Ottawa Senators of the National Hockey League. It has also hosted the Canadian University Men's Basketball Championship...
, the Ontario government required that the corporation pay for all of the required infrastructure, including a freeway interchange.
These conditions led to the search for new financing. The search led to the turnover of the ownership of the Ottawa Senators to a partnership led by Rod Bryden
Rod Bryden
Rod Bryden is a prominent Ottawa business executive. He is best known as the owner of the Ottawa Senators National Hockey League team from 1992 until 2003. Outside of hockey, his career has included founding or leading several of Canada's leading companies.- Biography :Rod Bryden was born on March...
. Mr. Bryden was able to arrange financing of the development through a partnership with Ogden Entertainment and Bruce left to allow the franchise to continue.
Ottawa Rough Riders
After leaving the Senators organization, Firestone became chairman and part-owner of the Ottawa Rough Riders Canadian Football League football team. After one year with the organization it was sold to another ownership group and Firestone returned to real estate development.
Exploriem
In 2004, Firestone founded Exploriem.org, a registered Canadian Not-For-Profit Professional Entrepreneurs and Intrapreneurs Organization. He is the Executive Director of the organization which helps entrepreneurs and start-ups get a foothold in the local business community through business model competitions, funding, mentoring, and providing free office space. Exploriem
Exploriem
Exploriem is a registered non-profit organization in Ottawa, Canada, aimed at supporting professional entrepreneurs and intrapreneurs. According to their charter, "the Organization's aim is to mentor, teach, perform research, conduct events, provide early-stage funding and office/incubator space...
is also partnered with OCRI (Ottawa Centre for Research and Innovation), Algonquin College, Lead to Win and others within the Ottawa business community.
Current
Today, Firestone is an entrepreneur-in-residence at the Telfer School of Management at the University of Ottawa
University of Ottawa
The University of Ottawa is a bilingual, research-intensive, non-denominational, international university in Ottawa, Ontario. It is one of the oldest universities in Canada. It was originally established as the College of Bytown in 1848 by the Missionary Oblates of Mary Immaculate...
and a commercial real estate agent. He writes regularly on his personal 'blog' on business topics. As well he has written the Entrepreneurs Handbook which is guide to help entrepreneurs get started using the bootstrap method and starting with a good business model.
See also
- Ottawa Rough RidersOttawa Rough RidersThe Ottawa Rough Riders were a Canadian Football League team based in Ottawa, Ontario, founded in 1876. One of the oldest and longest lived professional sports teams in North America, the Rough Riders won the Grey Cup championship nine times. Their most dominant era was the 1960s and 1970s, a...
- ExploriemExploriemExploriem is a registered non-profit organization in Ottawa, Canada, aimed at supporting professional entrepreneurs and intrapreneurs. According to their charter, "the Organization's aim is to mentor, teach, perform research, conduct events, provide early-stage funding and office/incubator space...
- Ottawa SenatorsOttawa SenatorsThe Ottawa Senators are a professional ice hockey team based in Ottawa, Ontario, Canada. They are members of the Northeast Division of the Eastern Conference of the National Hockey League...
- Cyril LeederCyril LeederCyril Leeder is the president of the Ottawa Senators professional ice hockey team in the National Hockey League and its corporation, the Senators Sports & Entertainment Corporation...
- Randy SextonRandy SextonRandy Sexton is a Canadian ice hockey executive, businessman and former athlete. He is currently assistant director of amateur scouting for the Pittsburgh Penguins of the National Hockey League . He most recently was the general manager of the Florida Panthers of the NHL. He was one of the...
External links
- http://www.ocri.ca/exploriem/
- http://www.telfer.uottawa.ca/en
- http://www.eqjournal.org/Launch-of-the-Ottawa-Business-News-15-april-1986.pdf