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January 13, 2011
Hamilton launches Tiger-Cats stadium renovation study
The Ivor Wynne renovation plan inched ahead yesterday, as the Hamilton city council voted unanimously to conduct a study analyzing the Tiger-Cats' plan by January 24.
Estimates are that the cost of renovation could be covered by the $45 million already committed by the city and $70 million from the Pan Am Games, so at least unlike previous stadium plans, there'd be no funding gap. There are no details about what kind of lease the Tiger-Cats would want, though, which is somewhat worrying — apparently the city of Hamilton has already been subsidizing the team to the tune of $1.3 million a year, so one would hope that would be eliminated in exchange for providing them with a renovated stadium at no cost.
Also unknown: Who'll get the proceeds from naming rights and other sponsorships, if those are sold? As hopefully Hamilton officials already known, a construction funding agreement is a nice start, but the real devil is in the lease details.