WINNIPEG - Good-bye Canad Inns Stadium, hello Investors Group Field.
The Winnipeg Blue Bombers and Investors Group have extended a long-standing partnership to include the naming rights of the new football stadium at the University of Manitoba, it was announced Wednesday afternoon.
The 'Investors Group Field' naming agreement is for 12 years. While no financial details regarding the partnership were disclosed, it’s believed the deal is much more lucrative than the 10-year, $1.5-million deal the football team had with Manitoba-based hotel chain Canad Inns, which has been the stadium name holder since the 2001 season.
"Today's great announcement is another chapter in what will be a spectacular facility and one of the premier sports and entertainment venues in North America," Blue Bombers interim CEO Ossama AbouZeid said in a release.
The Manitoba Bisons football club will also play at the new stadium.
Investors Group, one of Canada’s longest standing financial service providers, is the facility name rights holder for the University of Manitoba basketball and volleyball clubs (the Investors Group Athletic Centre).
"Our organizations share more than 80 years of history in Canada and more than 35 years as partners in building a strong and vital football community," said Murray Taylor, president and CEO of Investors Group.
"This agreement demonstrates the pride we have in our past and we look forward to Investors Group Field being a place where people will gather to enjoy sports, concerts and special events in a world-class facility."
The new 33,500-seat bowl stadium (which can be expanded to seat 40,000 for major events) is currently under construction at the University of Manitoba. The $190-million dollar facility is scheduled to open for the start of the 2012 CFL season.
Prior to the 2001 season, the home of the Blue Bombers was simply called Winnipeg Stadium.
Watch a replay of the entire press conference below: