The Manitoba government has written off an $82 million loan owed to it by the Winnipeg Blue Bombers over the construction of Investors Group Field.
Premier Brian Pallister and Finance Minister Scott Fielding made the announcement on Wednesday, September 26, 2018.
[jaw_quote author=”Premier Brian Pallister” ]We have determined that there is no reasonable expectation of collecting this money[/jaw_quote][jaw_clear]
Pallister said that the original deal that saw the province involved was designed to fail and that they have run the numbers that indicate there is no way the Bombers organization or the other partners in the consortium could possibly pay back the money owed.
” We were told as Manitobans by the previous administration there wouldn’t be a cost for us for the stadium project and we now know at least $200 million has had to be written off as a consequence of that project,” said Pallister. ” This is an unsustainable scam, there is just no other way to describe it.”
The province had previously written off $118 million related to construction loans for the stadium.
© 2018 News 4
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