msav
03-31-2010, 04:56 PM
From CBC.ca
The new stadium will accommodate 45,000 seats and have an inflatable dome during the winter. (Blueandgold.ca)
The Winnipeg Blue Bombers will be playing in a new stadium in 2012 and host the Grey Cup at the facility in 2015.
The provincial government is giving Winnipeg business magnate David Asper a $90-million bridge loan to fast-track construction of a $115-million stadium on the University of Manitoba campus.
'This will be a first-class facility.'—Premier Greg SelingerAn additional $22.5 million will be spent on fitness facilities for amateur athletics for a total price tag of $137.5 million on developing the site.
Manitoba Premier Greg Selinger announced the financing arrangement at a press conference Wednesday morning at Canad Inns Stadium, the Bombers' present home on Maroons Road in the city's Polo Park area.
"This will be a first-class facility," Selinger said, noting shovels will be in the ground this summer.
"This plan provides the foundation that is needed to move this project forward. Building the stadium now significantly reduces the long-term cost, creates an immediate stimulus for our economy, and provides a lasting asset for the university and the community."
Canad Inns Stadium, built in 1953, would require an estimated $52 million to upgrade. (Google Street View)
Speculation has been building about fast-tracking the project after Selinger recently revealed the current stadium at Polo Park would need about $52 million in upgrades over the next decade.
He had also suggested that putting money into the aging facility might not make sense, like trying to keep an old car going with constant repairs.
"It's done," Winnipeg Mayor Sam Katz said about the old stadium at Wednesday's press conference.
Canad Inns was built in 1953 and seats 29,533. The new stadium will have 33,000 fixed seats but be able to accommodate 40,000 for major events like the Grey Cup — which will be held in Winnipeg in 2015, Selinger also announced.
There will also be 40 private suites and a Hall of Fame for the club.
The stadium will be built on an eight-hectare site at Chancellor-Matheson Road and University Crescent on the U of M campus. An inflatable dome will cover the field in winter so university teams can use it during the CFL off-season.
In addition to the stadium, the site will feature a multiplex athletic facility for the university and its Bison sports teams.
It will include a refurbished university stadium and new fitness centre.
Asper's proposal for the facility was first announced in April 2009 but its progress was hampered by the sluggish economy.
The original plan called for Asper to finance the bulk of a $135-million stadium and multiplex facility, and take ownership of the team.
It all hinged on the successful development by his real estate company, Creswin Properties Ltd., of a ritzy retail plaza on the site of Canad Inns Stadium.
Once financing was in place for the retail development, dubbed The Elms, the current stadium would come down and the new one would go up.
The federal government had pledged $15 million — for the amateur sport component of the facility — and the Manitoba government offered up $20 million.
But plodding progress on The Elms was putting the new stadium project in doubt. The original groundbreaking was supposed to happen in February 2010 with a projected opening in summer 2011.
Asper was granted a one-year extension on the deal in September after he blamed the bruised economy for impacting his ability to find retailers willing to commit to The Elms.
The original financing commitment from the federal government is still in place, while the province is providing $5 million for the fitness centre, which will be available to students and the general public.
The city will also provide $2.5 million for the fitness centre, subject to approval from council.
The bridge financing will help speed along The Elms development because now potential retailers can be given a more concrete date for when they can move in, Asper said.
"We were in a chicken-and-egg situation. We couldn't tell them when we were going to take down the stadium because we didn't know when we were going to occupy the new stadium, and therefore we couldn't tell them when they could occupy the stores," he said.
An end to community ownership
Under the restructured deal, Asper has until 2016 to pay off the bridge financing. If he does, he will take over ownership of the team, which has been community-owned since it was founded in 1930.
A former Blue Bombers board member, Asper has been trying since September 2006 to buy the team.
The stadium itself will remain community-owned in perpetuity.
"Our mission from Day 1 has been to create a new stadium that deals directly and completely with making it a place where the fans can enjoy the games with modern and comfortable amenities," Asper said at the press conference.
"We’ve never wavered from the goal and I’m happy to say that, with today’s announcement, Bomber and Bison fans are going to get what they have long deserved."
The new stadium will accommodate 45,000 seats and have an inflatable dome during the winter. (Blueandgold.ca)
The Winnipeg Blue Bombers will be playing in a new stadium in 2012 and host the Grey Cup at the facility in 2015.
The provincial government is giving Winnipeg business magnate David Asper a $90-million bridge loan to fast-track construction of a $115-million stadium on the University of Manitoba campus.
'This will be a first-class facility.'—Premier Greg SelingerAn additional $22.5 million will be spent on fitness facilities for amateur athletics for a total price tag of $137.5 million on developing the site.
Manitoba Premier Greg Selinger announced the financing arrangement at a press conference Wednesday morning at Canad Inns Stadium, the Bombers' present home on Maroons Road in the city's Polo Park area.
"This will be a first-class facility," Selinger said, noting shovels will be in the ground this summer.
"This plan provides the foundation that is needed to move this project forward. Building the stadium now significantly reduces the long-term cost, creates an immediate stimulus for our economy, and provides a lasting asset for the university and the community."
Canad Inns Stadium, built in 1953, would require an estimated $52 million to upgrade. (Google Street View)
Speculation has been building about fast-tracking the project after Selinger recently revealed the current stadium at Polo Park would need about $52 million in upgrades over the next decade.
He had also suggested that putting money into the aging facility might not make sense, like trying to keep an old car going with constant repairs.
"It's done," Winnipeg Mayor Sam Katz said about the old stadium at Wednesday's press conference.
Canad Inns was built in 1953 and seats 29,533. The new stadium will have 33,000 fixed seats but be able to accommodate 40,000 for major events like the Grey Cup — which will be held in Winnipeg in 2015, Selinger also announced.
There will also be 40 private suites and a Hall of Fame for the club.
The stadium will be built on an eight-hectare site at Chancellor-Matheson Road and University Crescent on the U of M campus. An inflatable dome will cover the field in winter so university teams can use it during the CFL off-season.
In addition to the stadium, the site will feature a multiplex athletic facility for the university and its Bison sports teams.
It will include a refurbished university stadium and new fitness centre.
Asper's proposal for the facility was first announced in April 2009 but its progress was hampered by the sluggish economy.
The original plan called for Asper to finance the bulk of a $135-million stadium and multiplex facility, and take ownership of the team.
It all hinged on the successful development by his real estate company, Creswin Properties Ltd., of a ritzy retail plaza on the site of Canad Inns Stadium.
Once financing was in place for the retail development, dubbed The Elms, the current stadium would come down and the new one would go up.
The federal government had pledged $15 million — for the amateur sport component of the facility — and the Manitoba government offered up $20 million.
But plodding progress on The Elms was putting the new stadium project in doubt. The original groundbreaking was supposed to happen in February 2010 with a projected opening in summer 2011.
Asper was granted a one-year extension on the deal in September after he blamed the bruised economy for impacting his ability to find retailers willing to commit to The Elms.
The original financing commitment from the federal government is still in place, while the province is providing $5 million for the fitness centre, which will be available to students and the general public.
The city will also provide $2.5 million for the fitness centre, subject to approval from council.
The bridge financing will help speed along The Elms development because now potential retailers can be given a more concrete date for when they can move in, Asper said.
"We were in a chicken-and-egg situation. We couldn't tell them when we were going to take down the stadium because we didn't know when we were going to occupy the new stadium, and therefore we couldn't tell them when they could occupy the stores," he said.
An end to community ownership
Under the restructured deal, Asper has until 2016 to pay off the bridge financing. If he does, he will take over ownership of the team, which has been community-owned since it was founded in 1930.
A former Blue Bombers board member, Asper has been trying since September 2006 to buy the team.
The stadium itself will remain community-owned in perpetuity.
"Our mission from Day 1 has been to create a new stadium that deals directly and completely with making it a place where the fans can enjoy the games with modern and comfortable amenities," Asper said at the press conference.
"We’ve never wavered from the goal and I’m happy to say that, with today’s announcement, Bomber and Bison fans are going to get what they have long deserved."