Toronto Raptors 1995

1993 - Toronto Raptors Team Formation

Sports Team History

The Toronto Raptors were established on November 4, 1993, when the NBA, as part of its expansion into Canada, awarded its 28th franchise to a group headed by Toronto businessman John Bitove for a then-record expansion fee of $125 million. Bitove and Allan Slaight of Slaight Communications each owned 39.5%, with the Bank of Nova Scotia (10%), Vice President Isiah Thomas (9%), David Peterson (1%) Phil Granovsky (1%) being minority partners. The Raptors, along with the Vancouver Grizzlies, played their first game in 1995, and were the first NBA teams based in Canada since the 1946 – 1947 Toronto Huskies, though the Buffalo Braves had played a total of 16 regular season games at Maple Leaf Gardens in Toronto from 1971 – 1975.