The City of Vancouver, Canada, announced on December 11 that it had signed a memorandum of understanding with Vancouver Whitecaps FC to build a new soccer stadium
The agreement stipulates that the two parties will enter into an exclusive negotiation period to build a new stadium and entertainment district at Hastings Racetrack Park in northeast Vancouver. The negotiation period will run until December 31, 2026. “We will collaborate to negotiate the terms of the ground lease, including the stadium design, financial terms and community benefits,” the agreement states.
The proposed lease area is located on the current Hastings Racetrack Park site, including space that was recently used for racetrack and casino operations. The City of Vancouver will retain ownership of the land. The memorandum of understanding was signed by Vancouver Mayor Ken Sim and Vancouver Whitecaps FC CEO Axel Schuster. The Vancouver Whitecaps of Major League Soccer (MLS) won their first Western Conference title this season and advanced to the MLS Cup Final. Although they lost to Inter Miami of the Eastern Conference, they showed consistent strength as a team.
The team currently uses BC Place in downtown Vancouver as its home ground. BC Place was renovated from its previous dome-shaped structure to a retractable roof for use by the Whitecaps, who were promoted to MLS in 2011. However, it remains one of the few artificial turf grounds in MLS.
A new stadium has been a long-cherished dream of the Whitecaps, and there were previous plans to build one near Vancouver Harbour, but these plans did not come to fruition
The Whitecaps officially announced the sale of the team in December 2024. The key to the team’s survival in Vancouver is the construction of a new stadium. The lease with BC Place expires at the end of 2025. The reason for this is said to be continued unfavourable conditions in terms of revenue.
At a press conference, Schuster said he was seeking a fair contract with BC Pavilion Corporation (PavCo), the provincial corporation that operates BC Place. He explained that the team had the seventh-highest attendance of the 30 league teams, the 10th-highest average attendance during the regular season, and the third-highest attendance during the playoffs. He also argued that the fact that revenue was still second to lowest in the league was “unsustainable.”
Mayor Sim emphasized, “Without this memorandum, there would be no chance whatsoever for the Whitecaps to stay in Vancouver.”
However, even if a new stadium is built, there is still a possibility that the new owner will move the team from Vancouver to another city.