Council defers decision on proposed Event Centre and Convention Centre operator Agreement Framework

City Council has, at its October 29 Regular Business Meeting, deferred a decision on a proposed private partner Agreement Framework with OVG360 (OVG) which would have begun to create a third-party operating management structure for the Downtown District Event Centre and Convention Centre.

Council voted unanimously to defer a discussion on the proposed framework until the first quarter of 2026 to further process the information, consider negotiated points and have an opportunity to discuss with impacted organizations.

The proposed agreement framework presented to Council set out $15 million in up-front capital plus a projected $235 million in forecasted operating revenue sharing over the full potential 30-year term, in contrast with the previous agreement which estimated a projected $170 million (combined capital and operating revenue) over 25 years.

The proposed agreement would reduce financial risk for the City: if there are Event Centre losses, those would be absorbed by OVG. The proposed agreement also addresses community benefits including economic opportunities for traditionally marginalized groups, employment that will work with existing employees and unions, and benefits for community non-profit events.

For more information on OVG360 please visit oakviewgroup.com/ovg360/.

For more information on the Downtown Event and Entertainment District, including background information and previous Council decisions, please visit saskatoon.ca/eventdistrict.