A rendering of the future football stadium at the University of Manitoba (BLUEANDGOLD.CA)
The Winnipeg Football Club rolled out their strategy on Tuesday for how they plan to pay back an $85 million loan to the provincial government for a new football stadium at the University of Manitoba.
During a noon hour media briefing session, Board Chairman Bill Watchorn outlined a number of initiatives, and named board members Jeff Thompson Chief Transition Officer and Ossama AbouZeid Project Manager to oversee the development of the stadium, worth $190 million.
Revenue streams will be attributed to four main areas, including corporate and premium seating, with a planned attendance increase and a 5,000-stall parking lot to handle fan traffic.
Secondly, the club plans to rely on primary and secondary naming rights and corporate sponsorship to boost revenues.
The rumoured facility fee will also be implemented, costing fans an additional $6 per ticket. The fee comes above and beyond the already implemented 10% entertainment tax. Both are expected to bring in $2.5 million annually.
The club will also use concessions, merchandise and signage as another stream in paying back the hefty provincial loan over 44 years.
The team needs to generate at least $4 million a year for an annual payment on the loan, which will be paid back with interest totalling $176 million.
Ticket prices are expected to increase by five to 10 percent by the time the team moves to the U of M in June of 2012.
