The Lansdowne partnership has racked up another year of losses and is counting on lower financial distributions in the years to come.
In its annual report, the partnership between the city and Ottawa Sports and Entertainment Group (OSEG) reported a net loss of $9.2 million for the 2023-24 fiscal year. That’s almost precisely the same as the previous fiscal year.
The new results, together with next year’s budget and updated economic assumptions, prompted the partnership to update its fiscal forecast for the years ahead. It now foresees a reduction in distributions of $4.6 million over the 40-year life of the agreement.
The forecast is based on the current partnership, not the planned Lansdowne 2.0 project.
The partnership has…