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The Spokesman-Review Newspaper The Spokesman-Review

Tuesday, June 2, 2020  Spokane, Washington  Est. May 19, 1883
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Winnipeg To Stay Put

By Compiled From Wire Services

Nothing can kill an agreement to keep the Jets in Winnipeg for seasons to come, according to a team owner and Manitoba’s minister of finance.

Owner Bill Davis and minster Eric Stefanson say all issues that could have jeopardized an agreement to keep the team in Winnipeg and build a new 16,000-seat arena have been settled .

But one participant in the negotiations cautioned patience.

“This is a complicated deal that could take a while to document,” said Arni Thorsteinson, who managed fundraising for Manitoba Entertainment Complex, a local group involved in the deal.

The agreement is to be completed by Aug. 15. The group has until then to raise about $30 million more to complete an endowment fund to cover future losses. A grassroots campaign already has raised $60 million.

The deal calls for the current owners to relinquish their majority stake in the team, selling all but a 22 percent share for $32 million.

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