 From 1988 to 1997, the Vancouver Canucks were owned by local businessman and philanthropist Arthur Griffiths, who had inherited ownership from his father, Frank.However, he was forced to sell his majority interest in the Canucks after overextending his resources trying to build a new arena, GM Place (currently known as Rogers Arena).As a result, he sold his majority share to American billionaire John McCaw, Jr..

On November 17, 2004, the Aquilini Investment Group, headed by Francesco Aquilini, purchased a 50% share in Orca Bay Sports and Entertainment (the owners of both the Canucks franchise and Rogers Arena) from John McCaw, Jr.