"The MOU, which will last until the end of 2026, involves a potential stadium site at Hastings Park, and will see the two sides negotiate terms for a ground lease, including the stadium's design, financial terms and community benefits for the proposed development."
""We still have a long ways to go, but I'm incredibly optimistic about the future of soccer in our city for the next countless generations" said Vancouver mayor Ken Sim at Thursday's news conference. "And so I would like to thank the Vancouver Whitecaps and our team members at the city of Vancouver, and there have been a lot of them, a lot of unsung heroes that have worked incredibly hard and incredibly diligently to get us to this point.""
""There are interested parties that would like to buy the Whitecaps," said Sim. "There are interested parties who want to take the Whitecaps out of the city of Vancouver if we do not create an environment, or if there's no opportunity to have your own stadium or you have your concessions in the economics around it. There is no viable option for anyone who wants to keep the Whitecaps in the city of Vancouver.""
The city of Vancouver and the Vancouver Whitecaps signed a memorandum of understanding to explore development of a new stadium and entertainment district at Hastings Park. The MOU runs until the end of 2026 and frames negotiations over a ground lease, stadium design, financial terms and community benefits. The city is committing only to negotiate a lease while the Whitecaps and prospective partners must develop and finance a concrete plan. Club ownership announced the team was for sale in December 2024. City leadership expressed optimism that a stadium deal would help retain the club in Vancouver.
Read at ESPN.com
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