The project would have seen a professional soccer franchise come to Saskatoon and a new stadium built to host games.
“With ventures of this magnitude, it is important to adjust to constantly changing economic factors,” Prarieland CEO Dan Kemppainen said in a prepared statement.
Prairieland’s statement went on to say the corporation continues to support the development of all forms of recreation that bring growth to the city. He said the timing just doesn’t appear to be ideal for “such an ambitious project,” citing interest rates, inflation and construction costs that have increased significantly since the work was started years ago.
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