Investors Group Field costs balloon to $203.5M

The cost to complete the new stadium on the University of Manitoba campus has risen by an extra $3.5 million.

BBB Stadium Inc. is the non-profit responsible for constructing and funding the Investors Group Field. It’s made up of the City of Winnipeg, the Winnipeg Football Club and the University of Manitoba.

Phil Sheegl sits on the organization’s board and said the extra costs were to address “relatively minor design issues.”

The stadium has been plagued by rising costs. The original cost was forecast at $190 million, but the Winnipeg Football Club took out an additional $10 million commercial loan earlier this year to have some items upgraded.

The Province of Manitoba is financing the $190 million loan and recently renegotiated its terms with the football club to help them pay off their commercial loan faster.

Now, an additional $3.5 million has been added to the costs.

Sheegl didn’t say who would be on the hook for the costs, but Mayor Sam Katz said the city won’t be footing the bill.

Officials with the Province of the Manitoba said talks are ongoing about the additional $3.5 million.

Meanwhile, plans are in the works for an additional $350,000 in improvements to the stadium's press box.

The work needs to be done to allow the stadium to hold a Grey Cup game. The Winnipeg Football Club is looking for a corporate sponsorship to help fund those costs.

A spokesperson for Premier Greg Selinger told CBC News, "Going forward, there are some design issues that would need to be addressed in advance of hosting the Grey Cup. The province is part of those discussions, but no commitments have been made. All parties are working toward a resolution that could see Winnipeg host the Grey Cup as early as 2015. These things are a work in progress, but we're confident they will be resolved."