Tag: cup

08 Jun

Who Owns the Stanley Cup?

Noah Weisberg Charities, Estate & Trust, Executors and Trustees, General Interest, In the News, Trustees Tags: , , , , , , , , , , , 0 Comments

With the Stanley Cup Finals in full swing, I thought it would be interesting to re-visit the history surrounding the trust that holds the Stanley Cup.

According to this article, upon Lord Stanley of Preston being appointed Governor General of Canada by Queen Victoria in 1888, both him and his family became enamoured with hockey.  So much so, that he created the ‘Dominion Hockey Challenge Cup’ to be held year to year by the championship hockey team in the Dominion of Canada.

To ensure the Cup remained true to Lord Stanley’s intention, he settled a charitable trust, with the Cup being the trust property.  He appointed two trustees to administer the trust, and set out these initial trust terms:

  1. The winners shall return the Cup in good order when required by the trustees so that it may be passed to future winning teams;
  2. Each winning team, at its own expense, may have the club’s name and year engraved on a silver ring fitted on the Cup;
  3. The Cup shall remain a challenge cup, and should not become the property of one team, even if won more than once;
  4. The trustees shall maintain absolute authority in all situations or disputes over the winner of the Cup; and,
  5. If one of the existing trustees resigns or drops out, the remaining trustee shall nominate a substitute.

So, to answer the question – the NHL does not own the Cup.  Nevertheless, the NHL was able to reach an agreement with the trustees in 1947 where, amongst other things, it obtained exclusive rights to award the Cup.

However, as a result of legal proceedings commenced by a recreational league hockey team during the last NHL lockout, the agreement was varied to allow the trustees to award the cup to a non-NHL team should the NHL fail to organize a competition.

Noah Weisberg

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12 Jul

World Cup Over: Spanish, Employers Rejoice

Hull & Hull LLP News & Events Tags: , , , , 0 Comments

While returning to the office after a meeting Wednesday afternoon, I couldn’t help but notice how many people were watching the Spanish defeat the Germans on the giant movie projectors set up in Toronto’s underground labyrinth (for non-Torontonians: the major downtown subway stops, shopping centers and towers are connected by an underground network of tunnels and food courts).  The scene was replicated all along my journey.  What I did not see were the weeping business owners, but they must be out there.

According to this AP article, and this similar article, the World Cup will cost the German economy US$8 billion (0.27% GDP), Brazil shuts down, and as for Italy: when Italian FIAT autoworkers went on strike, by sheer coincidence the timing was 30 minutes before game time (did management even notice?); the issue was whether the workers could watch the game.  The World Cup is the fourth largest sapper of the US economy because of afternoon timing not popularity (March Madness NCAA basketball is tops).

Congrats to the Spanish champions.

Have a great and productive week,

Christopher M.B. Graham – Click here for more information on Chris Graham.

 

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