October 28, 2005
Shiver me timbers!
The Toronto city council has approved a $72 million soccer stadium for Exhibition Place, clearing the last major hurdle for Canada's first MLS expansion franchise. The cost breakdown: $9.8 million in cash and $10 million in land from the city; $8 million from the province of Ontario; $27 million from the federal government; $10 million from naming rights; and $8 million, plus any additional cost overruns, from Maple Leaf Sports and Entertainment, which will own the soccer team and run the place. The deal includes a profit-sharing arrangement that could help the city recoup some of its costs, but critics are still wary of putting so much public money into the project - as councillor Howard Moscoe put it, "I'm leery about public-private projects which inevitably become public-pirate projects."
I am surprised this went through without a major fight. I'm pleased that Toronto will be joining the North American soccer revolution. Hopefully a MLS Toronto team will ignite a new Canadian soccer league and the Toronto MLS team will then join that league. right ??
Posted by Bertell Ollman on October 28, 2005 10:16 PM
One of the things being heavily debated in Toronto is that the soccer watching public lives in the communities around the city proper, but the stadium is going to be right downtown on the lake.
Furthermore, some of the key players in the soccer community were not involved in the site selection process. This leads observers to wonder how profitable this will be as a venue over the long term.
I am pretty confident that the stadium will be well attended for the world championships that are coming. (under 20? shows how much I am paying attention) However, we know that one event does not a profitable stadium make.
Considering how Mayor Miller was elected to clean up city hall, it is probably too bad he didn't have the guts to do the really hard math on this one and walk away.
Posted by Joel on October 29, 2005 07:49 AM
Any chance the team will be called TFC - Toronto Football Club?
Posted by Bertell Ollman on October 29, 2005 01:43 PM
Just to clarify, I believe that the $72 million is in Canadian dollars.
Posted by scaryice on October 29, 2005 06:30 PM
Perky "Canada" Has Own Laws, Currency.
Posted by Neil on October 30, 2005 12:42 AM
So with Toronto seemingly a lock for MLS, what happens to Toronto's USL team, the Lynx? And further more, what happens to the USL Canadian division?
Posted by Bertell Ollman on October 30, 2005 12:54 PM
One story had the Lynx hoping to rent out the new stadium from the MLS team. This seems like a somewhat dodgy business plan.
Posted by Neil on October 30, 2005 08:38 PM
The Toronto Lynx will RIP. Same happened with the Utah Blitzz USL team when MLS came to town. USL teams can not survive with a MLS team in town. Unfortunately, they are competing with eachother instead of complementing or nurturing each other. Very sad. Hopefully 1 day MLS will take over the USL and a completely integrated ladder system of North American soccer will take hold.
Posted by Bertell Ollman on October 31, 2005 12:22 AM
$27 million of Federal cash. And we wonder why Quebec wants to get rid of the feds.
Posted by Tyler on October 31, 2005 12:46 AM
Anyone get the feeling that a free and independent French speaking country in North Amerika wouldn't last too long with "King George" in control?
Posted by Bertell Ollman on October 31, 2005 02:09 PM
The soccer stadium should have been built in Vaughan.
www.city.vaughan.on.ca/newscentre/projects/pdf/SoccerPresentation4_5.pdf
www.city.vaughan.on.ca/newscentre/projects/pdf/SoccerPresentation_6.pdf
Posted by Daniel on October 31, 2005 06:17 PM