No bid from Edmonton for Canadian Finals Rodeo

The city of Edmonton will not put in a bid to host the Canadian Finals Rodeo beyond this year.

A generous offer made in March was rejected by the Canadian Professional Rodeo Association, and the city has determined there was no way to improve on that offer without too much risk, Mayor Don Iveson said Thursday.

"To expect the city to take the promoter risk, but also to not get the upside if the event is successful, is just not fair and not an acceptable risk," Iveson said.

The current contract between the CPRA and Northlands expires at the end of 2016.

The city, Northlands and the Oilers Entertainment Group put an offer on the table to renew that contract before the March 1 deadline. 

That offer was rejected by the CPRA, who said they wanted to entertain bids from other municipalities that had shown interest in hosting the event.

The mayor said those other communities now appear less eager to secure the event for the same reasons as Edmonton.

What this could mean in terms of the CPRA coming back to the city of Edmonton is pure speculation, he said.

In the meantime, there is a new chapter coming in Edmonton's "western story," the Iveson said.

New bull riding event coming to Edmonton

The Oilers Entertainment Group has signed a letter of intent with the Professional Bull Rider association for an event that will run in conjunction with FarmFair next year.

It will include a western-themed festival with bull riding, country and western concerts and community events.

When looking at the numbers in terms of economic spin-off, FarmFair is what the city really needs to protect, Iveson said. The event drives huge traffic to Edmonton, with economic benefits in the $20 million range, with potential for growth, he added.

"When you have options, that's a good thing as opposed to only having one horse to ride," Iveson said.