The general managers of Canada’s National Hockey League (NHL) teams, including the Montreal Canadiens’ Kent Hughes, believe the living conditions in the country are making it increasingly difficult to attract good players.
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In particular, a law banning foreigners from acquiring real estate in Canada by 2024, alongside the significant taxes levied by the federal government, may deter more than one hockey player. This new regulation came into force on January 1st with the aim of regulating the real estate market.
According to Sportsnet, Hughes took the floor at Tuesday’s NHL CEO meeting in Florida to address the issue. The law affects all foreign athletes who have played in the United States in the past few years, as they must have filed their tax returns in Canada for at least three of the past four years to be eligible.
“It’s a challenge. It’s a challenge for the hockey industry, and I feel like it’s just as difficult in any other industry — how do you attract foreign workers?” wondered the Montreal native.
“I think we can understand the reason for trying to control the price of housing for the people who live here,” he added. I don’t know how much these prices are driven by people here compared to people who invest or make their money overseas. I hope there’s a way to find a compromise, but I don’t know enough about the inner workings of the Canadian government to say how that might happen.
The solution could be found in an agreement with the government that provides an exemption for NHL hockey players. The same problem could also arise in front of Toronto Raptors and Blue Jays athletes.
As pointed out by Sportsnet, renting real estate rather than buying it remains an option, but especially for younger people.