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Monday, July 2, 2012

Field of Schemes new post Saskatchewan offers $80m toward $278m Roughriders stadium

The province of Saskatchewan has promised to spend $80 million on a new Roughriders stadium, which sounds more momentous until you realize that a new stadium is expected to cost $278 million. (It was going to be $431 million with a roof, but apparently now the plan is to make it "roof-ready" and let somebody else worry about that bit.) The city of Regina has offered to put in $60 million, which leaves the plan about 50% funded, and 50% wishful thinking.

The province did offer to extend loans to the city for the some of the remainder, but that would just make it the city's problem how to pay back the loans. Given that the Roughriders are owners by a Green Bay Packers-style community partnership, there's no deep-pocketed owner to make up the difference, but it's always possible the team could decide it's worth paying increased rent to cover the public costs, in order to get a new stadium. Given past history, probably not, though.



from Field of Schemes http://www.fieldofschemes.com/news/archives/2012/07/4998_saskatchewan_of.html

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