Luc Poirier has already offered US$380 million to resurrect the Nordiques

It looked like he was going to run for mayor of Montreal; he ended up as an investor on Dans l’œil du dragon.

I took a few minutes this morning to chat with Luc Poirier about his new challenge, as well as professional sports, real estate and charitable causes. Enjoy!

Yes, Luc Poirier did seriously consider running for mayor, but he didn’t think the timing was right.

“At first, I’d tell you, I had a lot of companies telling me to register as a mayoral candidate, a year and a half, two years ago. Then in the last six, eight months, there have been a lot of citizens from Montreal, but also from elsewhere who are tired of coming back to Montreal and seeing orange cones everywhere, crime, homelessness […] many saw me as a solution.” –Luc Poirier

Except that Luc didn’t think he could run, since he doesn’t live in Montreal. However, a month ago, a journalist from La Presse found him a piece of legislation proving that he didn’t need to sleep in Montreal seven nights a week. Having an address, renting a pied-à-terre/second home, would have sufficed. Except that the timing wasn’t right.

“I’ve decided to concentrate on my teenagers and my family, even though I’m tempted. But I’m not saying no. If, unfortunately, Valérie Plante wins again-I really don’t hope so, for Montreal’s sake-but we’ll look at it in four, four and a half years.” –Luc Poirier

The timing of Dragons season 14 – after lifting hands in season 2 – was probably better.

Luc Poirier, sports team owner(s)?
About seven years ago, Luc Poirier made an offer to buy a major NHL team. His offer? US$800 million.

It almost happened, but it didn’t work out.

Today, that team is worth double that, or close to it, according to Poirier.

Seven years ago, it was the time of the Golden Knights, the Kraken… but also of the sale of the Hurricanes and Islanders. Which team was on Luc Poirier’s bid?

“The value of teams is increasing a lot and quickly because there are more and more billionaires who buy teams for fun, to say they have a team.” –Luc Poirier

Poirier also tried to buy the Coyotes in 2017-the price was only $380 million-but Bill Daly demanded that you keep the franchise in Arizona. Luc wanted to move the team to Quebec, which the NHL (really) didn’t want. Even though the organization was losing $30 million a year…

For a market like Quebec City, it’s impossible to make money with a concession worth over a billion U.S. dollars. You have to be there at the beginning… and that’s why it takes government support. I don’t see how the Nordiques could come back without government help. –Luc Poirier

Since the current economic climate is not conducive to government investment in professional sports, there’s no need to dream in Quebec City. But that, unfortunately, you already know…

The National League wanted nothing to do with moving to Quebec City. – Luc Poirier

I asked Luc if he was for or against public investment in professional sports. He thinks it should be à la carte.

For the government to agree to give money to a sporting event or organization, two things are required:

1. You have to be able to confirm that the event (Grand Prix, Presidents’ Cup, etc.) brings money from elsewhere into our community.

2. It makes sense to support new initiatives that are in their early stages of development. It’s like with a child, once the new organization is stable and making money, you have to stop supporting it.

“Supporting the Canadiens, who must make $200 million in profits a year, it would be illogical to support them. Same thing with tennis.” –Luc Poirier

Real estate and professional sports together
Luc Poirier is a real estate magnate. Nowadays, almost every new stadium in North America has real estate on the side, especially when the projects are 100% private. Real estate helps enormously in subsidizing projects and making them profitable.

“Before, arenas were far from downtown, and now we want them downtown. Close to companies and season ticket holders. Look at Ottawa. There will be real estate around the new downtown arena.” –Luc Poirier

I asked Luc if he regretted – or would go back to – Occupation Double. He doesn’t regret it, but he wouldn’t go back today. In fact, he’s always watched the first episode of every season out of curiosity, but he didn’t this year.

So he probably doesn’t know Catherine F…

Finally, I asked Luc about his community involvement. Luc helps the Bruny Surin Foundation and the Christian Vachon Foundation, but he does even more.

“When I was young, I needed Christmas baskets. So today, I’m taking part in this initiative, but from the other side. The more you give back to the community, the more the community gives back to you. I do the Guignolée des médias on the South Shore, the Grand Défi Pierre Lavoie, the Tour du Québec by bike, the Cross-Canada cycling tour, I’m honorary president of a lot of parties and I’m on several boards of directors. I devote about 35 to 36 days of my time to getting physically involved in events and foundations to raise money.” –Luc Poirier

When you consider that Luc spends around $1 million a week, it’s clear that devoting 35 or 36 days of your year to helping others is the equivalent of giving a lot of money back to the community.

Too bad his plans to bring the Nordiques back to Quebec City didn’t work out. We would have had a committed, motivated and dedicated owner!