Toronto's historic Matador Ballroom is up for sale again

Just when we thought the Matador Ballroom was finally coming back we're learning that the dream of a live music venue and restaurant near the corner of College and Dovercourt may not come to fruition.

Late Friday, long-time owner Paul McCaugney, admitted on Facebook that the project had hit a big hurdle. His brother and major investor has left the project. 

McCaughey says ownership of the building returned to the lender on October 1 and he's no longer the owner.

After fighting for about eight years to get the Matador up and running, McCaughey is optimistic that he can still stay involved.

"If an investor or buyer emerges I would be willing to pass the torch and help them to finish what I began, " wrote McCaughey in the Facebook post.