The problem with a Toronto franchise that I see is Buffalo. There is no way the Bills allow Toronto to get a team without getting huge concessions in return.
If they end up getting a team I don't see how it can't be a huge failure. Toronto is great at supporting the Maple Leafs but awful when it comes to some of the other teams. The Skydome is an awful stadium and making changes to it will not make it any better.
Add this to all the other issues that Canadian cities always face in competing with American teams and it seems like a bad idea to me.
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