Ossama AbouZeid (left), interim CEO of the Winnipeg Football Club and Murray Taylor, President and CEO of Investors Group unveil the signage for the new Winnipeg stadium during a press conference in Winnipeg Wednesday, December 14, 2011, announcing the new home of the Winnipeg Blue Bombers and sports and entertainment facility being built at the University of Manitoba, named Investors Group Field.John Woods/The Canadian Press
The concrete and steel are taking shape at the University of Manitoba and now the new home of the Winnipeg Blue Bombers officially has a name.
The 33,500-seat stadium will be called Investors Group Field.
The CFL club announced Wednesday it had reached a 12-year agreement with the financial services company to name the stadium.
It wouldn't say what it received, although at one time it was reportedly looking for around $20-million.
"We're very proud of having a long-term 12-year deal that does meet all of our financial requirements for sure," Bombers transition officer Jeff Thompson said.
"We had tremendous interest. We weighed all of the pros and cons every time we met with prospective partners and we landed here today."
The stadium is currently expected to cost a relatively modest $190-million and be open in time for the 2012 CFL season. It will also be home to the University of Manitoba Bisons.
The province is paying the lion's share up front but the Bombers are supposed to repay about $85-million over time. The city and federal government are also making contributions.
Winnipeg-based Investors Group Inc. was founded in 1926, and is now part of the IGM Financial Inc. group of companies, which together have around $121-billion in assets under management.
Winnipeg-based hotel chain Canad Inns had the naming rights to the old field and Thompson says he expects they will continue to have a sponsorship relationship with the football team in some fashion.
Premier Greg Selinger and Winnipeg Mayor Sam Katz were on hand for the announcement, along with Investors president Murray Taylor.
Taylor noted both the football club and Investors have been in Winnipeg for more than 80 years.
"We are very proud to have Winnipeg as our headquarters," he said. "Our partnership with the Winnipeg Football Club goes back about 35 years, and through that time we've had many ways to work together."
Investors name already appears on the Investors Group Athletic Centre, near where the new stadium is being built at the university.
Most of the seating at the stadium is covered, although the field is open to the sky, and it's expandable to 40,000 seats for special events or the Grey Cup.
The new stadium plus a little spillover of sports hype from the return of the NHL's Winnipeg Jets drove Bombers season-ticket sales – and overall attendance – to new highs in 2011.
On the field, the team also saw a resurgence, finishing first in the East Division and making it to the Grey Cup, although the Bombers lost to the B.C. Lions in the title game.
They now have a waiting list for season tickets at the new field, which will become active once current season-ticket holders make their selections next month.
The Canadian Press