Host Saskatchewan pays Canadian Hockey League for Memorial Cup loss | iNFOnews | Thompson-Okanagan's News Source

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Host Saskatchewan pays Canadian Hockey League for Memorial Cup loss

January 20, 2014 - 2:12 PM

REGINA - The Saskatchewan government is taking a hit of about $668,000 on the Memorial Cup junior hockey championship held in Saskatoon last May.

The province has just approved payment to the Canadian Hockey League because the event didn't meet a profit guarantee of $3.5 million that was made when Saskatoon bid for the championship.

Tim McMillan, minister responsible for Tourism Saskatchewan, says the hockey tournament made about $2.5 million and was one of the best attended in history.

The province also put up $250,000 to upgrade rink boards and glass, bringing the total it spent on the Memorial Cup to closer to $918,000.

McMillan says some events ask for a profit guarantee, while others ask for an upfront grant, like the Junos which asked for $1.5 million last year in Regina.

He also says the Memorial Cup generated about $11 million in economic spinoff for Saskatoon, so it was the worth the money.

News from © The Canadian Press, 2014
The Canadian Press

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