Article content

Extra costs at Lansdowne Park have wiped out the possibility that the city will turn a profit on the project.

The Ottawa Sports and Entertainment Group — the city’s partner in the venture, which brought about the return of CFL football to the city and dramatically transformed the Bank Street site — also stands to make less money than initially expected, and suffered an operating loss of $10.9 million in Lansdowne’s start-up year.

We apologize, but this video has failed to load.

tap here to see other videos from our team. Try refreshing your browser, or Lansdowne report shows city will make no money Back to video

The details, released late Tuesday in advance of next week’s finance and economic development committee meeting, are contained in the first-ever annual report on the Lansdowne Partnership Plan. The report provides council with an update on the first year of operations at the park, which was unwrapped in stages following the Ottawa Redblacks opening game on July 18, 2014.

Financial statements for 2014 were provided to the city at a meeting in June, as well as an updated picture of the profit-earning potential of Lansdowne Park.