Bombers invite Expressions of Interest
February 9, 2007 - Canadian Football League (CFL)
Winnipeg Blue Bombers News Release
WINNIPEG, MB - The Winnipeg Football Club today released a Request for Expressions of Interest. The Request for Expressions of Interest was prepared by the Winnipeg office of BDO Dunwoody Corporate Finance Inc. on behalf of the Winnipeg Football Club.
In response to initial advertising in Winnipeg and national newspapers, BDO has already sent information packages to a number of potential investors.
The release of the Request for Expressions of Interest is the next step in a continuing process being undertaken by the Winnipeg Football Club to ensure the long-term viability of the organization and follows two related events. In January of this year, Winnipeg businessman David Asper provided a proposal to re-develop the current stadium site, and the Winnipeg Football Club released results of the Destination Complex Feasibility Study, it conducted with Canad Inns Hotels and the Red River Exhibition Association.
"We are thrilled by the initial reaction to the Request for Expressions of Interest," said Ken Hildahl, chairman of the Winnipeg Football Club board of directors. "BDO has sent a number of packages so far and we anticipate hearing from more potential investors in the coming days. This is a great start and by the March 26 deadline, we expect to have a number of solid formal proposals to evaluate along with the Asper proposal and the results of the Destination Feasibility Study."
The purpose of the Request for Expressions of Interest is to secure the long term viability of the Winnipeg Football Club by identifying an owner/operator/investor(s) who are capable of implementing new and innovative concepts for the stadium and adjacent land. The Winnipeg Football Club anticipates completing its selection process according to the following phases:
Phase I: Accepting Expressions of Interest and short-listing candidates
Phase II: Interviews/presentations from short-listed candidates
Phase III: Securing Binding Letters of Intent, and
Phase IV: Negotiating a definitive binding agreement with the successful owner/operator/investor(s)
All enquiries related to the Request for Expressions of Interest, including requests for copies of the document, shall be directed to BDO Dunwoody Corporate Finance Inc. in Winnipeg at the address provided at the end of this release. The deadline for submissions is 4:00 pm (CST) on March 26, 2007.
"The timing is exceptional for this phase of the process," added Hildahl. "The club is very competitive, our financial house is in order and we are coming off the high of hosting a very successful Grey Cup. At the same time, the popularity of Canadian football is on the rise, Winnipeg's economy is growing and demand for commercial development in and around the stadium is high as well. Add it all up and it is easy to understand why investors are responding positively to the Request for Expressions of Interest. It is a solid business opportunity."
Canadian Football League Stories from February 9, 2007
- New coordinator welcomes old friend - Toronto Argonauts
- Maciocia announces 2007 Eskimo coaching staff - Edmonton Elks
- Bombers invite Expressions of Interest - Winnipeg Blue Bombers
- Riders re-sign a pair of Canadians - Saskatchewan Roughriders
The opinions expressed in this release are those of the organization issuing it, and do not necessarily reflect the thoughts or opinions of OurSports Central or its staff.
