Taxpayers pay $1.88M for 2011 Grey Cup

BOB MACKIN, QMI Agency

, Last Updated: 10:13 PM ET

The B.C. government paid $1.88 million for the right to host and market next year’s Grey Cup.

"The agreement to secure the 2011 Grey Cup to showcase the revitalization of B.C. Place was fully funded by Province of B.C.,” said B.C. Pavilion Corporation’s report for the year ended March 31, 2010. “The cost will be amortized into operations in fiscal 2012."

The Nov. 27, 2011 championship will be the eighth since the stadium opened in 1983 and 99th in Canadian football history.

NDP critic Spencer Chandra Herbert said $563 million in stadium renovations -- including a new retractable roof -- should have been enough to entice the Canadian Football League without a subsidy.

The report said PavCo will begin repaying the government loan for stadium upgrades in April 2013 with semi-annual payments through the 2049 fiscal year at a fixed 4.89 percent interest rate. Meanwhile, PavCo received a $19.7 million “event readiness” grant which was spent on preparing for the Feb. 12 Olympic opening ceremony.

PavCo chief executive Warren Buckley remained among B.C.‘s highest-paid public employees with $562,307 in salary and benefits. Vancouver Convention Centre general manager Ken Cretney’s $335,347 pay packet was greater than B.C. Place counterpart Howard Crosley’s $215,283.


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