Blue and Gold

The extension, agreed to by all stakeholders, follows the signing of Letters of Intent with two major U.S. retailers interested in anchoring The Elms Collection – a 650,000 square foot upscale shopping destination to be constructed on the site of the current stadium. Once complete, The Elms will serve as the new stadium’s economic engine – to ensure the project is primarily paid for by the private sector and not taxpayers.

“Even though the recession has slowed our progress, we have made solid advances in attracting the interest of leading retailers,” said David Asper. “This speaks volumes in terms of the attractiveness of our marketplace and our ability to move forward.”

Asper said he and his team remain as focused as ever on delivering a state-of-the-art stadium for the community. “From the outset, I’ve said let’s build it once and build it right. This extension will allow us to construct the kind of retail development that is capable of financing a first rate stadium.”

Having reviewed the updated details, Manitoba Premier Gary Doer said, “I am satisfied that much progress has been made toward turning the stadium vision into reality. In conjunction with The Elms, I believe the project will deliver significant and long lasting benefits for our community.”

Ken Hildahl, Chair of the Board of Directors of the Winnipeg Football Club said the organization remains dedicated to construction of a new stadium at the University of Manitoba. “Both the Board and management are fully behind the Creswin proposal and are continuing to work hard on many different fronts to ensure it succeeds,” he said.

Asper said next steps will focus on finalizing lease arrangements with the U.S. anchors and launching an extensive marketing campaign to attract the supporting junior anchor and boutique retailers. A final push will also bring all ancillary agreements among the stakeholders to completion.