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Council Statement on Mile One Centre Privatization

  • Writer: News Staff
    News Staff
  • Sep 26, 2020
  • 1 min read

Businessman Dean MacDonald is floating the idea that he would be interested in purchasing Mile One. MacDonald has stated that private ownership could offer a lot of improvements to the facility.


The City of St. John's says that there is a lot to consider when it comes to selling a public asset such as Mile One.


A study prepared in 2019 on the possibility of third-party management for Mile One brought to light some key considerations.


The consultants could find no examples of any municipally-owned medium or large-capacity arena having been sold or leased, long-term, in Canada.


There is a risk of loss of control. For example, new owners could potentially change the use of that facility, leaving the City without a large sports and entertainment venue.


Hotels, restaurants, bars and retail stores benefit from an active sports and entertainment facility.


The City has hired the same consultant who completed the third-party management report to quickly provide advice on the sale/privatization model.

 
 
 

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