TORONTO - Toronto Blue Jays' owners Rogers Communications have purchased SkyDome for $25 million. Rogers announced that they have reached an agreement with Sportsco International to acquire the 50,000-seat stadium that opened in 1989.
The price announced today is a fraction of its original cost of $600 million, mostly funded by taxpayers.
"The purchase of SkyDome is an opportunity for us to acquire a tremendous asset at an extremely attractive price, but more importantly, we will now have significantly better control over our product and the fan experience," said Paul Godfrey, President and CEO of the Toronto Blue Jays.
The Jays will now join with other Major League Baseball teams in controlling the facility in which they play. "This will enable us to measurably improve the efficiency of our business operations," continued Godfrey. "This is a win-win deal for the Jays' fans and for the ball club. We are all very excited about what this means in the future."
SkyDome, the largest entertainment venue in the Greater Toronto Area and is also the setting for numerous other performances and sporting events.
The transaction is likely to be complete in December 2004 .
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