Special to CFL.ca

WINNIPEG -- Construction of world-class athletic and recreation venues at the University of Manitoba (UM), including a new stadium for both the Blue Bombers and the Bisons, took another major step forward today following the signing of key agreements.

The financial core of the deal includes a $100 million plus private sector investment that significantly alleviates the load on taxpayers due to the retail development and economic engine at Polo Park.  The project will also provide an important economic stimulus for Manitoba in terms of creating an estimated 1,468 person-years of employment and $26.2 million in new tax revenues.  Signed agreements will provide for:

* $35 million in joint support from the Government of Canada and Province of Manitoba. Federal funding will be strictly limited to the amateur and community sport venues
* Acquisition of Winnipeg Blue Bombers with change in ownership slated for early 2010
* Multi-year land lease by UM, subject to final approval by its Board of Governors
* Sale of existing stadium site at fair market value, subject to final approval by City Council

The exhaustive team effort, which follows two years of negotiations, clears the way for final approvals by City Council and the UM Board of Governors.  It will also allow Creswin to tackle the final challenge of securing retail tenants for the project’s sister development at Polo Park.

“We’re at third and goal thanks to the determination of all our partners,” said David Asper, “plus we have an outstanding short yardage team at Creswin that will push us to victory.”

The retail marketing, leasing and financing phase, already underway, will conclude in September and be followed by financing and construction tendering with closing of the deal as early as February 2010.  Other anticipated key dates in the project timeline include:

* Final stadium architectural and engineering design process –  immediate
* New stadium site preparation and landscaping work –  fall 2009
* Shovels in ground on new stadium  – spring 2010
* Construction of phase 1 retail at existing site – spring 2010
* Stadium construction substantially complete – spring 2011
* Demolition of existing stadium site and construction of phase 2 retail  – spring 2011
* Opening of new stadium –  football season 2011
* Substantial completion of phase 3 retail at existing site – summer 2013

COMMUNITY INTEREST FULLY PROTECTED:

The community will be protected by a Community Interest Agreement (CIA) guaranteeing the team’s home in Winnipeg, in perpetuity.  To represent the community and ensure all agreements are adhered to, a not-for-profit corporation entitled the Winnipeg Football Club Stakeholders (WFCS) has been established with its Board consisting of two members each from the Province, City, WFC and Creswin.

The WFCS will be the ultimate owner of the new stadium and will have, as its mandate, the authority to provide broad oversight and monitoring of the new facilities and corporate structure to ensure the Bombers stay in Winnipeg and operate as a community-minded organization.

“We are pleased to support this project,” said Manitoba Premier Gary Doer.  “When the overall development is complete, it will be a huge vote of confidence in our economy and will ensure the Bombers stay a strong and active part of our community and national identity.”

Ken Hildahl, Chair of the Board of the Winnipeg Football Club echoed the Premier’s comments. “Once finalized, this opens up a whole new era of stability and prominence for the Blue Bombers in Manitoba and across Canada,” he said.  “During these lengthy negotiations, we believe we have served the community well with agreements that ensure the Bombers forever remain a lasting legacy, right here in Winnipeg.”

BEST IN CLASS ATHLETIC FACILITIES:

Once complete, the facilities, which include the new stadium, refurbished University Stadium and new fitness centre, will be transformational for the University of Manitoba Fort Garry Campus according to President, Dr. David Barnard.

“In terms of critical mass, this development will allow us to build on the strengths of the Max Bell Centre, Investors Group Athletic Centre and new indoor soccer complex,” he said,
“and help transform the University into a year-round sport and recreation destination.  This will position us as a leader in athletic and community development across Canada and provide many synergistic opportunities for our institution, our students and the community.”

Winnipeg Mayor Sam Katz said a new stadium and additional sports venues are long overdue.  “Not only will Winnipeggers benefit tremendously from these new facilities that guarantee a future home for our Winnipeg Blue Bombers,” he said, “but the new retail at the existing site is projected to generate millions annually in new municipal taxes.  I’d say that’s a win-win for all.”

In closing, Asper reflected on the more than two year journey since he initially presented the Board of the WFC with a proposal to construct a new stadium.  “While we won’t be able to call the new facility ‘the house that Jack built’, one thing is for sure – when it happens, it’ll have a new name - ‘the house we all built’.”

The new 30,000 seat, fan-friendly stadium (expandable to 45,000 seats) will be constructed on a 20 acre site within the sports precinct at the intersection of University Crescent and Chancellor Matheson Drive at the University of Manitoba, Fort Garry Campus.

Courtesy: www.blueandgold.ca