The longevity and complexity of the deal is what took so long for an agreement in principle to be signed between the City of St. John’s and its two pro sports teams.

The Newfoundland Growlers and the St. John’s Edge Basketball Club yesterday announced an Agreement in Principle for a ten-year lease extension for the use of Mile One Centre through the 2029-2030 season.

Mayor Danny Breen says the negotiations were complex due to the three parties involved. He says these things take time, and sometimes there are new scenarios presented, meaning they have to go back and do more work to know what they’re getting into. Now they’re getting into a ten-year agreement, and all parties wanted to make sure it was right.

Breen says the average subsidy reduction in revenue to St. John’s Sports and Entertainment and the Mile One is around $229-thousand per year, but they also see an opportunity to take away from the deduction by increased attendance.

Growlers owner, Dean MacDonald says the 10-year lease is not cheap by any means, but the benefit of ten years gives them a chance to really build something. He says they’re investing in the team, infrastructure, staff and most importantly the fans – and now fans know they’ll be here for a long time.

The Growlers will open their season and raise their championship banner to the rafters at the Mile One, on October 11th.