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Plans to build a new 5,500-capacity stadium in a bid to bring professional football to the Canadian city of Saskatoon have been halted.
Prairieland Park Corporation, one of the parties involved in the proposed project, said yesterday (Tuesday) that financial concerns surrounding inflation, interest rates and construction costs were behind the decision.
Prairieland said its board of directors, in agreement with project partner Living Sky Sports, had decided to “adjourn” the development at Marquis Downs.
“With ventures of this magnitude, it is important to adjust to constantly changing economic factors,” Prarieland CEO Dan Kemppainen said. “As we progressed with the project plans, we have had to make the decision to attend to competing financial priorities.”
Initially, the total cost was expected to reach C$25m (£14.6m/€17.1m/US$18.3m), with the Province of Saskatchewan, the Federal Government, and the City of Saskatoon set to commit C$7m each.
However, last year, Prairieland Park Corporation and Living Sky Sports – both of which committed C$2m towards the development – asked the local authority to provide C$8m in public funds to support the project through annual C$1m instalments, with the total budget having increased to C$28m.
The City of Saskatoon committee said that it would need more information before providing the funds. The proposed stadium site is a former racetrack that closed in 2021, and it was hoped that the new venue would lure a Canadian Premier League expansion franchise, whilst also providing a home for lacrosse, rugby and cricket.
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