ICBC Sponsorship Signals Progress for Vancouver Whitecaps, but Stadium Deal and New Owner Still Needed

To understand Monday’s news that the Vancouver Whitecaps have signed a sponsorship agreement with ICBC, we must go back to the beginning of the year and some comments made by the team’s CEO Axel Schuster.

In February, Schuster said there are 25 to 30 “little steps” that must all be completed in order to properly secure the Whitecaps as a franchise and make them an appealing purchasing opportunity.

There are some interesting ways to read into the smoke around the ICBC deal, no doubt, but the 25-to-30-steps comment remains the overriding thing to remember here.

Yes, it’s fair to wonder if a provincial Crown corporation would sign a deal with the Caps — no terms were announced — if there’s a chance the team is gone in January. And yes, it’s fair to ponder whether, if talks between the team and the government about a management deal for B.C. Place were going badly, a deal with a separate Crown corporation would happen.

Even if we could firmly answer both questions in the affirmative, there are still a great many of those little steps to be filled. I remain of the firm belief that some sort of renewed deal will be signed between the team and the government — but I also know that nothing is done until it’s on paper and the new arrangement is actually in place.

Talks between the government and the team remain slow. As has been noted, the cabinet shuffle last month stalled discussions as new ministers and officials got up to speed with their new files, plus everything going on with the United States and this summer’s wildfire season all took priority.

The Whitecaps do need a new deal at B.C. Place one way or another, be it a new lease or the bigger management deal they’re hoping for. But they also need to sign other sponsors, whether downtown Vancouver businesses or additional Crown corporations. The revenue gap the team needs to bridge was big to begin with, and as of yet no massive deal has been struck that would accelerate the team’s own “Save the Caps” campaign to a positive conclusion.

Fixing that revenue gap and securing a solid future at B.C. Place are things that need to be sorted before any prospective investor — be they one who has already looked at the Caps’ books or a new one altogether — makes a bid for the team.

And that’s the thing that arches over this entire discussion: the team needs new investors. The current owners remain in the same position they’ve been in for almost two years — they want to sell the team.

So to sum up: Does ICBC tell us a stadium deal is imminent and the team’s future is secured? Almost certainly not. Is it a positive sign that progress is being made? Sure, any progress is good. Does a deal with ICBC close the remaining gap to be filled? I think we’d have heard from management if that were the case.

The Caps haven’t been saved yet. The work must carry on. This city, all you fans, you deserve the best — and the team’s owners, managers, sponsors, and the provincial government surely know that.

Let’s get those last deals done. Let’s move beyond talking about what the future might be and actually have it arrive in the best way possible.

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