Mayor Ken Sim and the Vancouver Whitecaps FC have agreed to explore the city’s Hastings Park as the location for the team’s new, permanent home.
Sim and Whitecaps CEO Axel Schuster announced having entered a memorandum of understanding (MOU) to “enter into an exclusive negotiation period to explore a new stadium and entertainment district” at the park.
The Whitecaps’ future has been in question since the team was put up for sale in December 2024.
The uncertainty loomed over coverage of the team’s historic run to the MLS championship final Saturday, in which Vancouver lost to Inter Miami 3-1.
The club’s current lease at BC Place is set to expire at the end of the month.
Sim says the MOU outlines a negotiation period that will last through to the end of 2026, “with the ultimate goal of arranging a long-term lease between the city and the Vancouver Whitecaps.”
He explained, “Under such a lease, the city will retain ownership of the land at Hastings Park, and we intend to secure a fair market value. Lease while ensuring no undue financial risk to taxpayers.”
Schuster says the team is still for sale and fans need to be patient and the process may take a while yet.
“This is a very important first step and now we go back to work and hopefully we will remember this day at someday in the future as a remarkable day and the starting point,” said Schuster Thursday.
Sim is counted among the team’s fans, having travelled to Fort Lauderdale to watch the final on the weekend.
The mayor confirmed his commitment to the team in April.
“We are big supporters of the Whitecaps, and we would love to see the [team] remain in Vancouver. As a city, we will do anything we can to help that. We’ve had conversations, but the nature of those conversations I can’t share with the public,” Sim said at the time.
Operators shut down the racecourse and casino at Hastings Park last week, citing economic infeasibility.
Sim says the PNE area is “underutilized” and full of opportunity. He imagines the area developing into a full entertainment district.
“If you’re to look at an overall vision, it would be a place that is incredibly exciting, that people will be drawn to regardless if there’s a soccer match or not,” said Sim.
Sportsnet host Jason Brough says Vancouverites should remain cautiously optimistic.
“It’s all well and good for the ‘Caps and the mayor to announce that they’d like to get something done, it’s quite another to actually get it done,” said Brough.
“One rather large question that needs to be asked is, ‘Who’s gonna pay for the new stadium?’ I am sure they’ve got some partners in mind, but they might need to find some more.”
Sim says the MOU states that the city will enter negotiations to get a fair market value lease, but “it’s really up to the white caps and their partners to come up with a plan and finance that plan.”
Schuster explained that the MOU should help make the team more attractive to potential buyers.
“There’s probably absolutely no path for the Vancouver Whitecaps to remain in Vancouver without this MOU,” Sim added.
You can watch CityNews 24/7 live or listen live to 1130 NewsRadio Vancouver to keep up to date with this story. You can also subscribe to breaking news alerts sent directly to your inbox.
—With files from Kurt Black
