For the past five years, Goldeyes has been trying to secure a new lease for Shaw Park Stadium in Winnipeg. The standstill continues this week as the city says the baseball team’s financial records given to it are incomplete.
They say Goldeyes has been in deficit for the past two years. The Winnipeg Planning, Property and Development Committee called for the documents earlier this year.
A report presented to the city’s executive committee and published this week outlines Goldeye’s income and expenses. According to the figures they provided, the team was in red at $ 137,193 in 2018 and $ 19,529 in 2019.
But the city’s interim finance director Paul Olafson concludes that Goldeyes provides incomplete information. He notes that the information does not contain any financial details about Riverside Park Management, the non-profit organization that acts as an intermediary between the city and the baseball team.
The city leases the stadium to Riverside Park Management, which then sublets the stadium and parking spaces to Goldeyes. which belongs to Sam Katz, a former Winnipeg rapporteur.
“The financial information provided does not appear to include financial information related to Riverside Park Management. Therefore, a full revenue assessment of Winnipeg Goldeyes and Riverside Park Management cannot be completed.He wrote in the report.
“We do not have a complete picture […] We do not have all the information necessary to understand how this operation worksMr. Olafson told reporters on Wednesday.
The city’s latest offering is a 15-year lease for Shaw Park Stadium. The team would pay rent of $ 75,000 per year for five years, then $ 85,000 per year for steps six to ten and $ 95,000 for steps 11 to 15. It would then be possible to extend the contract twice for five years after the first 15 years. .
Right now, Sam Katz’s team pays only $ 1 in rent per year for the stadium.
Rental conditions “unacceptable“
Sam Katz believes that some of the terms of the lease are unacceptable. The team should know that they will receive tax reductions in the future and must retain control of parking, he said in July.
The information from Goldeyes also includes a report on the team’s contribution to the Manitoba capital.
It is reported that the team pays over $ 300,000 per year in various taxes, and generates revenue of approximately $ 100,000 per year for the city in parking revenue. The team employs around 300 people for a salary of $ 1.7 million.
Winnipeg Mayor Brian Bowman was unavailable for comment on Wednesday. However, Finance Committee Chairman Scott Gillingham said he would probably vote for the city’s offer, despite shortcomings in financial details.
“I’m not sure if we should get all the information we want, especially since some of that information is protected. Ultimately, we have to decide if we want Goldeyes baseball in Winnipeg, and I want to see Goldeyes continue to play.He said.
With information from Sean Kavanagh