Major funding shortage for new Bomber stadium

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This article was published 04/11/2010 (5772 days ago), so information in it may no longer be current.

Creswin Properties has briefed the stakeholders in the new football stadium project and there is a major shortage of funding.

The stakeholders were given a final price for the proposed stadium with all promised amenities, including a partial roof with coveragefor 80 per cent of the building’s seats.

Sources say the price is more than $160 million and the stakeholders are now huddling to determine what comes next. The project will require extra money or the design could be altered to make the stadium fit the $115-million budget used to put together the existing funding package. There is concern the project is in danger of being scrapped altogether.

 Bombers chair Bill Watchorn confirmed the stakeholders have been given a report from Creswin and he expects them to meet and make an announcement next week.

The project stakeholders — the city, the province, the U of M, the Blue Bombers and Creswin — originally signed a memo of understanding stating Creswin would build a stadium for $115 million.