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They might build the arena, but that doesn't mean they'll get an NHL team. I don't even think they expect to get an NHL team anymore, but the backers are giving all kinds of reasons why it would be great for Markham anyways. Who knows? Maybe it will be.
I think Hamilton should get a team before Markham. Markham is a suburb of Toronto, one of the biggest hockey towns on Earth. How could they possibly hope to attract enough Leafs supporters to fill the arena night after night. Hamilton, on the other hand, is just far enough away from Toronto and has a distinct enough population and culture that they could have their own NHL team and be able to attract enough fans to fill the arena.