HAMILTON, Ontario, Jan. 11 (UPI) -- Ivor Wynne Stadium, home of the Hamilton Tiger-Cats, will be rebuilt under a plan announced Tuesday by the team and the mayor of the Ontario city.
Ticats owner Bob Young and Hamilton Mayor Bob Bratina announced they had agreed on a proposal in which the 80-year-old facility would be demolished and rebuilt as a 25,000-seat home for a Canadian Football League team.
Young had courted offers to move the Ticats after their lease at Ivor Wynne -- the team's home since 1950 -- expires following the 2011 season.
The Ticats had preferred a proposal for a new stadium in the city's East Mountain area, but it was shot down as too costly. Young, meanwhile, refused to consider playing at a city-preferred site in Hamilton's West Harbour that was also to be used to court the 2015 Pan American Games.
"This is not the best solution for us," the team owner told reporters at the news conference, but he added it's one the team is willing to work with.
Young said team sponsors such as Molson-Coors and Tim Hortons would help pay for the city-funded project, the Hamilton Spectator reported.
Hamilton's City Council must first approve the compromise measure.
