SASKATOON — The City of Saskatoon will enter into a public-private partnership agreement with US-based Oak View Group 360, a service-oriented firm specializing in venue operations, for the planned Downtown Entertainment District. The report will be presented and discussed at the Council’s Governance and Priorities Committee meeting on Wednesday, Aug. 14.
OVG360 is a division of Oak View Group that specializes in client-partner agreements for arenas, convention centres, and stadiums. It is a service-oriented company known for venue operations and marketing. They partnered with some professional teams in the NBA, NHL and Major League Soccer in the US and Canada.
Technical Services, Transportation, and Construction Director Dan Willems said the city looked for credentials, experience, and values that understand the operations without sacrificing social responsibility in choosing a private partner. OVG360 has these qualities as it is known for its community leadership, funding, and running of event centres.
“The fact that we attracted the interest of a world-class expert in facility management reaffirms the potential and excitement that exists for a downtown event and entertainment district in Saskatoon. We are thrilled to announce this long-term operating partnership with OVG360,” said Willems during a media briefing on Wednesday, Aug. 7, at City Hall.
“OVG360’s extensive experience in managing premier facilities across North America, we are confident that their innovative approach will bring substantial financial benefits to [Saskatoon], which will help support the funding strategy for the new venues. This will not only enhance the vibrancy of our community but also drive economic growth.”
He added that the city expects to attract more world-class conventions, cultural activities and entertainers to hold their events in Saskatoon with their partnership with OVG360, which took the risk of providing an upfront capital of $20 million and another $150M as part of the 25-year agreement that awaits approval from the Council’s Governance and Priorities Committee.
“There is a 25-year deal. So, most of this will be negotiated, or we procure a new operating partner. We might end up with the same company, but that would be a question for the city in the years leading up to the end of the term,” said Willems.
Willems said the entertainment district project would also prevent property tax increases in the future, with the $170M to be pumped into the city’s coffers in addition to the projected revenues from accommodation, ticket surcharges, and parking for the new arcade.
The convention centre in the multimillion-dollar project is an expansion of TCU Place, and the arena will be new and replace SaskTel Centre. The city is also working on a cost-benefit analysis to determine the social, climate and sustainability gains of the new facilities that will be built downtown.
