Hamilton approves funds for new stadium

Sports Network

, Last Updated: 6:52 PM ET

HAMILTON -- Hamilton city council on Monday unanimously approved the plan between the city and the Tiger-Cats to build a new outdoor facility on the site of Ivor Wynne Stadium in time for the Pan Am Games in 2015.

The memorandum of understanding between the city and team calls for the Tiger- Cats to guarantee the city $9 million in naming rights, 10 percent of the club's net income after four years, and 50 percent of off-site parking revenues.

"Today's announcement is very positive news for the Pan Am Games and the legacy of amateur sports," said Ticats owner Bob Young. "We would like to thank all those who have shown tremendous leadership in moving this project forward, especially Hamilton City Council and Mayor Bob Bratina, as well as the provincial government.

"We look forward to working with all parties to transform the plan into a facility that will make us all proud, and will serve generations of Hamiltonians."

In August, Young and the city were at loggerheads on the future of the Ticats in Hamilton. The major issue was the location of a new stadium, intended to draw the Pan Am Games to the city. While then-mayor Fred Eisenberger favored a site in the western part of town, Young and the Ticats favored an eastern locale.

Young later suggested the Ticats could relocate from Hamilton if a favorable solution was not reached, and began soliciting offers for a new city to call home.

On January 11, though, the city and Young came to an agreement to keep the franchise in Canada's Steel City in the long term by essentially replacing Ivor Wynne with a new stadium on the existing site.

It calls for the entire $115 million of construction to by funded by the city and its organizing committee. Seating capacity is expected to be 25,000 -- less than Ivor Wynne's current capacity -- and a 2012 start date on construction should see completion in 2014.

The Tiger-Cats have called Ivor Wynne Stadium home since 1950, but the structure was originally built in 1930.


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