It's back to Varsity
New stadium to house Argos, soccer
By PERRY LEFKO -- Toronto Sun
Everything old will be new again when Varsity Stadium is rebuilt to house professional and amateur sports.
The University of Toronto, the Canadian Soccer Association and the Argonauts have reached a conditional deal for a multiple-sports complex -- including an outdoor 25,000-seat stadium for football and soccer. Details will be revealed today at Varsity Arena.
Sources say the estimated cost of the project is $80 million, of which $35 million is slated to come from the federal and provincial governments through an infrastructure program. The request for that funding is part of a proposal forwarded this week by the GTA caucus to Andy Scott, the federal minister responsible for infrastructure.
Both the CSA and U of T are eligible for government assistance, which is why the project has been steered in that direction for funding as opposed to a professional sports initiative.
About $15 million is to be derived from fundraising.
The remaining portion is expected to be financed.
The Argos and the CSA will be tenants, while U of T is expected to pay a utilization fee in exchange for providing the property. There will be community access for various sports.
Construction is to begin in the fall and take a minimum of 18 months.
The Argos want to move into the stadium for the start of the 2006 season. Argos owners Howard Sokolowski and David Cynamon vowed upon buying the team last October to build a stadium because of public indifference to the SkyDome.
SECURE RIGHTS
The CSA is hoping to use the complex to secure the rights to the 2007 under-20 world youth cup.
U of T had been in negotiations for four months with Maple Leaf Sports and Entertainment Ltd. on a proposed $130-million multiple sports/business complex, but the deal fell apart in March.
The CSA and the Argos took over the negotiations and hammered out an agreement stripping away many of the particulars MLSEL had proposed.
"This is exciting," said Argos director of Canadian scouting Nick Volpe, who played high school, university and professional football at Varsity. "Varsity is near and dear to my heart."
