CFL Winnipeg Blue Bombers

Bombers proceed with stadium process

Published on May 1, 2007 under Canadian Football League (CFL)
Winnipeg Blue Bombers News Release


WINNIPEG, MB - The Winnipeg Football Club today announced it will proceed with exclusive negotiations on a Binding Letter of Intent with Creswin Properties Limited as the next step in the club's efforts to build a new stadium and achieve long term sustainability.

"The football club's board of directors spent hundreds of hours evaluating the proposals with assistance from our legal counsel and expert consultants from BDO Dunwoody which resulted in the proposal from Creswin Properties Ltd. being unanimously endorsed by the board," said Ken Hildhahl, chairman of the Winnipeg Football Club board of directors.

"This is a major milestone in the process and we will now start negotiating a Binding Letter of Intent with Creswin. We are looking forward to working with David Asper and his team and are optimistic and confident an agreement can be achieved that will achieve the club's objective of ensuring the long-term viability of the football club and the Blue Bomber legacy."

Today's announcement marks the next step in a process the football club started in February. The binding agreement with Creswin will refine cost and other key details of the proposal and establish terms of reference to guide the project going forward. While negotiations proceed on the Letter of Intent with Creswin, the three levels of government will be kept apprised of the progress.

"The board was extremely pleased by the overall level of interest in the project and in particular want to extend our thanks to Leo Ledohowski and his team for their submission," added Hildahl. "Their proposal was truly visionary, but after detailed analysis the board concluded the Creswin proposal was best suited to the football club's objectives and capabilities.

"We could not have gotten this far in the process without the leadership of (Bomber President and CEO) Lyle Bauer and his team," concluded Hildahl. "Their work and dedication over the past many years have helped make today's announcement possible. They are one of the important assets of our business and we are confident they will play an important role in the club's future."

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