In August 2004 MLSE announced that they would relocate their AHL farm team from St. John's, Newfoundland to Toronto to play in Ricoh Coliseum (later renamed Coca-Cola Coliseum) for the 2005–06 season, after the arena was left without a hockey tenant following the termination of their lease with the Toronto Roadrunners, the AHL affiliate of the Edmonton Oilers, for defaulting on their rent. MLSE agreed to a 20-year lease for the Coliseum, which had undergone a $38 million renovation in 2003, that called for rent to cover debt financing charges, property taxes and generate a return to the arena investors, which exceeds $4 million annually.