The owners of MLS club Toronto FC are finalizing plans to enhance their home venue of BMO Field.
The Toronto Sun reports that Maple Leaf Sports & Entertainment (MLSE) are to spend $120million on an upgrade of the downtown Toronto stadium this summer.
MLSE president Tim Leiweke revealed that there are plans in place to develop BMO Field with help from the province and federal governments.
"It took a while for our board to get comfortable with this because this is the largest commitment we've made on a single process," Leiweke told the Sun.
"It was critical that we take the lead, that we put up the money and we bear the brunt here.
"I'm a big believer that the public sector should be worried about transportation, safety and education. We had no problem with the formula. We wanted to make sure that those who originally funded the stadium are still involved in the stadium."
Leiweke added that the stadium upgrade comes at the perfect time after the club spent $100million on new players such as Jermain Defoe, Michael Bradley and Gilberto in the offseason.
"We have to be a good team," Leiweke added. "The link between what we did with TFC from November on and what we're doing with the stadium is tied hand-in-hand in order to make sure that we have a stadium that is one of the best in the league.
"At the same time we needed a team that guaranteed the economics of this worked so we can cover it through the private sector."
