We told you last month that this man was crazy – but crazy good.
Notorious Toronto party boy, Bay Street superstar, entrepreneur, and the latest addition to CBC’s Dragons’ Den, Michael Wekerle has a new reason to party.
And it only cost him a cool $3.78-million.
Yesterday, Wekerle (or “Wek” as he’s known around town) announced the purchase of longtime Toronto music landmark El Mocambo. The iconic music venue – which opened in 1948 and has hosted bands like Blondie, the Ramones, U2, and the Rolling Stones – was supposed to host its final show last night.
Then Wekerle stepped up to the plate to save it from becoming yet another nostalgic Toronto memory.
Wekerle intends to keep it as a live music venue and to showcase a slew of great Canadian talent, like he’s know to at his annual – and very wild – Wekfest charity fundraiser.
Judging from the 50-year-old Wek’s success in business, his passion for music, and his decades of hard partying experience, we suspect the El will be the type of place that you once again have to check out – especially if Wek’s around.
If you haven’t heard by now, there’s rarely a dull moment for the larger-than-life and often over-the-top business mogul. He’s known to dance on tables a little too regularly, and recently made headlines when his extremely rare (as in one of two in Canada) 918 Porsche Spyder went up in flames in a freak accident at a Caledon gas station.
Though the El Macambo will close for a few months for renovations, Wekerle plans to keep most of the existing building the same. Renos are expected to include a wraparound bar and a revamp of the rooftop patio.
Either way, we expect the venue will retain its original rock n’ roll heart and soul – with a little of Wekerle’s touch thrown in – and for it to now live on in a whole new way for Torontonians.
Get excited.
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