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Northlands president and CEO Tim Reid warned this past K-Days could be the last should city council fail at the end of the month to reach a decision that would allow Northlands to generate new revenue.

“The reality of it is, with the introduction of a new arena, our business model has changed. So, if we can’t find some time, which is really what we are asking from council, then we will be in a position where this may very well be our last K-Days,” Reid told a press conference Tuesday.

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The opening of Rogers Place this fall will effectively bring an end to business at Rexall Place which has generated around $50 million in revenue every year for Northlands, a non-profit that operates the arena and the 64-hectare property around it.

Northlands is also getting out of horse racing at the end of 2016 due to dwindling profit margins. It had generated about $60 million in annual revenue for Northlands.

The non-profit organization presented Vision 2020 to council in March as a solution that it believes could save the 137-year-old organization from bankruptcy.