Without CFL or big events, discussion needed on Mosaic Stadium financing: Councillor
In the absence of a CFL season and with continued uncertainty surrounding mass events, a Regina city councillor believes a discussion is in order between the funding partners of Mosaic Stadium.
The project cost of the 33,000-seat building was $278 million, split between the City of Regina ($73 million), the CFL’s Saskatchewan Roughriders ($25 million) and the province ($80 million).
The remaining $100 million was financed through a loan to the city from the province, with the principal to be repaid through a $12 stadium fee charged on every ticket to Riders games. The term of the loan is 30 years.
“I expect in the coming weeks and months that the three partners will sit down and have a serious discussion about the way forward and how we can handle the financial impact,” said Coun. Mike O’Donnell.