Vancouver Whitecaps and City of Vancouver Sign MoU to Explore New Stadium

The City of Vancouver and Vancouver Whitecaps have announced that they have signed a Memorandum of Understanding to explore the potential development of a new stadium and entertainment district at Hastings Park in east Vancouver.

The City and the MLS club have entered into an exclusive negotiation period for the entirety of 2026. During this period, both parties will look to negotiate terms for a ground lease, including the design of the potential stadium, financial terms and the community benefits of such a development.

Hastings Racecourse Park, which contains the proposed lease area, includes space that has been dedicated to racecourse and casino operations. It will continue to be owned by the City of Vancouver, regardless of the MoU.

Earlier this month, Vancouver Whitecaps reached its first MLS Cup Final in Fort Lauderdale, Florida, losing 3-1 to Lionel Messi’s Inter Miami.

“After an incredible year that saw the Whitecaps reach the MLS Cup Final for the first time in club history, it’s clear just how much this team means to our city, and we’re incredibly excited to be taking the next step forward,” said Vancouver Mayor Ken Sim.

“This MoU demonstrates a firm commitment by both the City and the Whitecaps to advance work towards a new stadium here in Vancouver. The partnership we are building has the potential to create jobs, boost our local economy, and transform Hastings Park into an even more vibrant destination for sports, concerts, and community events.”

“We’re grateful for the City’s partnership and look forward to working together to determine whether Hastings Park can become the location for a future home of our club,” said Vancouver Whitecaps CEO Axel Schuster. “We have a lot of work ahead of us, but this is a positive step forward, and we hope many more will follow as we work to secure a permanent home that will allow us to compete with long-term stability in Major League Soccer.”

Potential New Stadium and Club Sale

Vancouver Whitecaps previously announced in April that it was in discussions with the City to build a new stadium at the Pacific National Exhibition fairgrounds site in Hastings Park.

The Whitecaps’ lease on its current stadium, B.C. Place, is set to expire in the year ahead. The venue, which is also leased to Canadian Football League outfit BC Lions, is owned by BC Pavilion Corporation.

B.C. Place will be a venue for the 2026 FIFA World Cup in Canada, Mexico and the United States, hosting seven games including two matches for Canada’s national team in the group stage. It will be known as Vancouver Stadium during the tournament.

Last December, the MLS side’s ownership group announced that they would sell the team, while enlisting Goldman Sachs to find a new buyer. At the time, Forbes valued the club in the region of $420 million.

The ownership group acquired Vancouver Whitecaps in 2008, before the club was awarded an MLS franchise a year later for $30 million.