The stadium built for the 1976 Montreal Olympic Games is almost paid off.
Built for the 1976 Summer Olympics, the 58,500-seat stadium cost an estimated $1.5 billion.
Provincial officials believe it will be fully paid off this year.
"We think we'll be finished with the last payment most probably during the end of the summer," said Sylvie Bastien, with the Olympic Installations Board, which oversees the stadium.
Olympic Stadium is affectionately known by Montrealers as “The Big O” or, less affectionately, “The Big Owe”, due to the huge expenses incurred in construction and operation of the facility. The planned retractable roof could not be installed by the time the games commenced because of labour disputes—an omen of things to come. It was not completed until 1988 and malfunctioned repeatedly after that.
After the Olympics, the Montreal Expos baseball team played there from 1978 through 2004.
In 1991 a 55-tonne concrete slab fell from the roof inside the stadium; fortunately, no one was hurt. In 1992, the retractable roof was replaced by a fixed roof. In 1998, the permanent roof was removed for repairs for the duration of the baseball season. In 1999, another section of the roof collapsed, showering workers inside with ice and snow. A new fixed roof was installed later that year, but that too has proved unreliable and requires periodic repairs. Yet another new roof is now being considered.
In view of those ongoing maintenance issues and the stadium's chronic annual deficit, it is not surprising that the city of Montreal and the province of Quebec are wrangling over who will take ownership of the Big Owe after the mortgage is paid. Neither wants it.
But paying off the debt has triggered heated negotiations between the province and the city of Montreal.
The city is supposed to take ownership of the stadium when it's paid off.
Municipal officials say they don't want it.
"We don't want to be the owner of the stadium," said Francine Senecal, the city's executive committee member responsible for sports and leisure.
Senecal, who says the stadium runs a deficit of millions of dollars each year, says it belongs to all Quebecers.
Montreal’s Olympic Stadium: one of the biggest white elephants in Canadian history. Now no one wants to be saddled with it. A fitting end to the project of which Montreal Mayor Jean Drapeau infamously said, "The Olympic Games can no more lose money than a man can have a baby."
The Olympic Stadium’s mortgage outlived Mr Drapeau, who died in 1999.
UPDATE (19 Dec.): Big Owe no longer: The $1.5 billion debt is paid off.









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