Tom Gaglardi said John McCaw wanted half the revenue from staging 2010 Winter Olympics' hockey games at General Motors Place as a condition of selling the arena.
In testimony yesterday at B.C. Supreme Court, Gaglardi said McCaw's right-hand man, Orca Bay president Stan McCammon, was proposing in October 2004 that Gaglardi split Games revenue if McCaw sold him GM Place and the Vancouver Canucks.
"That was a surprise," Gaglardi said.
VANOC, he said, was already offering $18.5 million for upgrades and maintenance plus more than $2 million in rent.
Gaglardi and Ryan Beedie say ex-partner Francesco Aquilini used confidential information to make his own deal with McCaw to buy the team and arena.
Asked if he had known McCaw's Oct. 30, 2004 offer was final or if he had been told Aquilini was also negotiating his own purchase, Gaglardi said he would've accepted the Oct. 30, 2004 deal as is.
"We were never prepared to lose the transaction," said Gaglardi, who called the prospect of owning the Canucks "beyond a dream."