Quebecor looking for partners to help bring back Nordiques

The bid has been placed, now Quebecor Inc. needs partners.

The Quebec media and telecom giant, one of two groups to make an official bid for an NHL expansion franchise this month, is searching for partners to help fund the hefty price tag, according to The Canadian Press.

The company said Thursday it has met and signed contracts with sponsors, but is still looking for other partners to help cover the $500-million cost of purchasing an expansion team outlined by the NHL.

"Submitting this application is one more step towards our ultimate objective of making sports an additional growth segment," president and CEO Pierre Dion told analysts on a conference call after the company posted its latest financial results. "We will soon be approaching potential partners, which we believe will attract high interest levels."

Quebecor aims to bring back the Quebec Nordiques, who relocated to Colorado and became the Avalanche in 1995.