Vancouver Canucks’ ownership structure

In 2013, the Aquilinis had to disclose to the CRTC the ownership structure of Breakaway PPV Corporation, a three-way pay-per-view broadcast partnership with the owners of the Edmonton Oilers and the Calgary Flames National Hockey League teams. While the partnership has been wrapped up, this single complex corporate tree gives a flavour of how the Aquilinis structure their businesses.
Breakaway PPV Corporation was a licensee of the regional direct-to-home pay-per-view live NHL games. It was owned by Breakaway PPV Holdings Corporation, which was owned equally between the Vancouver Canucks Limited Partnership (the Aquilini Group), the Calgary Flames Limited Partnership and Rexall Sports Corp., the owner of the Edmonton Oilers. At the very top of the Canucks’ portion of the ownership is the Aquilini (2001) Family Trust. From there on it is a nearly impenetrable mass of inter-connected companies. See if you can follow this. • The family trust owns 100 per cent of a numbered company, 638769 B.C. Ltd., which is the general managing partner of Aquilini Investment Group Limited Partnership, which is made up of various general and limited partners, including the numbered company. • AIGLP, in turn, owns another numbered company, 0783612 B.C. Ltd., which in turn owns 100 per cent of Canucks Sports & Entertainment Corporation. • Canucks Sports & Entertainment Corporation in turn owns half of Vancouver Hockey General Partner Inc., which is also half-owned by Aquilini Investment Group Limited Partnership. If you got lost, start at the top again. Vancouver Hockey General Partner Inc. is the general partner of Vancouver Hockey Limited Partnership, whose limited partner is Canucks Sports & Entertainment Corporation. • Vancouver Hockey Limited Partnership, in turn, is the limited partner of Vancouver Canucks Limited Partnership, which in turn owns one-third of Breakaway PPV Holdings Corporation. Which, as we indicated at the start of this exercise, owns the television licensee and is co-owned by the Oilers and Flames.

Aquilini (2001) Family Trust 100% 638769 B.C. Ltd.
Managing General partner

Various General Limited partners

Aquilini Investment Group Limited Partnership 100% 0783612 B.C. Ltd.
Limited partner

50%

100% Canucks Sports & Entertainment Corporation

50% Vancouver Hockey General Partner Inc.
Limited partner

Limited partner

Vancouver Canucks Limited Partnership
Limited partner Limited partner

General partner

Vancouver Canucks Limited Partnership 33.33% One-third Calgary Flames Breakaway PPV Holdings Corporation 100% Breakaway PPV Corporation Regional — Live National Hockey League Games (OTHPPV) One-third Edmonton Oilers

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