Manitoba writes off Blue Bombers stadium loan, province to release new deficit
WINNIPEG — The Manitoba government is writing off the second of two loan segments that helped finance a new stadium for the Winnipeg Blue Bombers of the Canadian Football League.
Premier Brian Pallister said Wednesday there is no reasonable chance that the Bombers and others in the consortium that owns Investors Group Field can repay the $82 million.
“Despite the best efforts of the team on the field last year, where they profited to the tune … of over $2 million, that wouldn’t even come halfway towards the obligations the (former NDP government) set up for them,” Pallister said.
The province has already written off another $118-million loan portion that helped get the stadium built in 2013.