After demolishing the historic Varsity Stadium in July of 2002, U of T is now inching close to a deal with a private investor to develop the empty land.
Larry Tanenbaum, the main share-holder in Maple Leaf Sports and Entertainment Ltd. (MLSEL)-the company that owns the Raptors and Leafs-approached the university a couple of weeks ago with a proposal to develop the Varsity site into a new sports facility. The proposal includes a 25,000 seat stadium, a 5,000 seat arena with two ice surfaces, facilities for students, a track, retail and student gathering spaces, as well as additional parking. And it wouldn’t cost the university a single cent.
“My family has long been associated with the University of Toronto,” says Tanenbaum “and I would very much like to be able to assist the university in building a great legacy on the Varsity site for future generations.”
Professional and amateur sports teams from around the GTA are already being named as potential tenants of the stadium and arena should the proposed facility get the green light. Mr. Tanenbaum has named the Toronto Argonauts, the Toronto Maple Leafs, the St. Michael’s Majors, and teams of the Canadian Soccer Association as foreseeable clients of the facility.
Several months ago, the university did entertain the idea of building a stadium in partnership with the Argos, under the CFL club’s former owner Sherwood Schwarz. It was a lack of funds that inevitably stonewalled those negotiations. Now, the Argos, under new owners David Cynamon and Howard Sokolowski are shopping around for new a home. Cynamon has said in a Globe and Mail interview that his football team is interested in Tanenbaum’s Varsity Stadium site project. The Argos are also considering building a stadium at York University.
The Leafs, the darlings of Tanenbaum’s MLSEL, would most likely use the facility as a practice space.
According to Jon Dellandrea, U of T’s vice-president of development, talks are currently underway to hash out the broad specifics of the partnership. “We are in discussions on a relatively short timetable,” says Dellandrea. U of T hopes to deliver a final “maybe” or “no” to the Tanenbaum deal within 90 days.
The final answer hinges on U of T’s number one concern: prioritizing the needs of its students. “Our eye is on the ball of what our students need,” says Dellandrea, “[U of T] is not getting seduced by the fascination of having professional sports on campus.”
Tanenbaum doesn’t think the university has anything to worry about. “It is important to note,” he says, “that the use by all of these teams spread over three facilities-for the most part limited to games and involving leagues with short schedules-would leave the great majority of facility time available for student use. The needs of the students will have priority in the development and utilization of the Varsity site.”
In addition, Tanenbaum foresees the facilities boosting student and campus involvement in intercollegiate athletics, bringing a renewed team spirit to campus. “We would also stage events that the general community would be interested in attending,” he adds, “thus integrating the community and the campus.”
So far, both sides are very optimistic, and appear flexible. Tanenbaum has vowed that all the facilities will be donated to the university once his initial investment is paid back in full. And as Dellandrea says, if you’re looking to build an Argos playing field and find downtown practice space for the Leafs “there’s only one A plus, plus, plus site in the downtown GTA-and that’s Varsity.”
