It appears there may be a breakthrough regarding the ongoing stadium talks in Hamilton.
According to the Globe and Mail, Tiger-Cats owner Bob Young is willing to invest $74 million on the new stadium with the premise the city will compromise on the location.
"Success in any business undertaking is the sum total of everyone doing their part. The Hamilton Tiger-Cats are prepared to do their part and more," Young said in a letter to Hamilton city council. "It's time to move forward. There is so much more that binds the City of Hamilton and the Hamilton Tiger-Cats than divides us."
Hamilton has been chosen as the site for a new stadium to be built for the 2015 Pan Am Games. But the city and the CFL team have been unable to agree on the location. With a deadline looming, both sides agreed to bring in a conciliator, who suggested building the stadium southeast of downtown Hamilton at the intersection of Red Hill Valley Parkway and Lincoln Alexander Parkway.
Young's proposal includes $15-million for construction costs, $3-million to cover yearly operating costs, a 10-year agreement to operate the stadium and $14-million to bring two Grey Cup games to the city "as soon as possible."
He is also prepared to bring a professional soccer to team to Hamilton.
Tiger-Cats president Scott Mitchell is optimistic the two sides will come together.
"We feel very strongly that there's a compromise solution to be had," Mitchell told the Globe and Mail. "I'd be very worried [about the stadium's future] if a compromise solution wasn't come to very quickly."
The Pan Am Games organizing committee has said that if the two sides cannot reach an agreement soon, they will be forced to choose another location.