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What happened to the Quebec Nordiques hockey team in 1995?

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Quebec Quebec city at dusk, Quebec, Canada.

In 1995, the Quebec Nordiques National Hockey League franchise relocated to Colorado and was renamed the Colorado Avalanche.12

Despite the team's success on the ice—including registering the best record in the conference during the 1994–95 season—its profitability was significantly hindered by playing in the smallest market in the NHL. The team's owner ultimately decided to sell the franchise to a Denver-based entertainment conglomerate after failing to reach an agreement with the Quebec provincial government regarding debt relief and funding for a new arena. The departure of the Nordiques remains a point of mourning for many local hockey fans in Quebec city.12