Hockey Canada is once again making headlines, and not in a good way
Hockey Canada has been on a downward spiral for months now.
Amid the multiple sexual assault cases (2018 and 2003), losing several sponsorship deals, and attendance at the 2022 World Juniors in Edmonton at embarrassingly low numbers, things couldn't possibly get worse for Hockey Canada, right?
Well, it appears that it has. According to John Kryk of 'The Toronto Sun', Hockey Canada owned a luxury condo for their board member to say in from 2010 to 2017
''I cannot think of any other national sports organization that would approve this type of investment from a risk tolerance point of view,» said one of Canada's foremost experts on proper board and executive governance, Richard (Rick) Powers, an associate professor who specializes in director training at the University of Toronto's prestigious Rotman School of Management.''
Something doesn't seem right about this, where did this money come from?
''I would even question whether such an investment would be in breach of their fiduciary duty, to do what is in the best interests of the organization — in this case, Hockey Canada. In the not-for-profit world, risk tolerance is different from the for-profit sector. It is very conservative and risk-averse.''
Things only seem to be getting worse each passing week. Who knows if Hockey Canada used a portion of registration fees to fund the condo, but with their track record, it certainly isn't out of the question.
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