The city of Vancouver and the Vancouver Whitecaps announced they have signed a memorandum of understanding (MOU) on the potential development on a new stadium and entertainment district.

The MOU, which will last until the end of 2026, involves a potential stadium site at Hastings Park, and will see the two sides negotiate terms for a ground lease, including the stadium's design, financial terms and community benefits for the proposed development.

"We still have a long ways to go, but I'm incredibly optimistic about the future of soccer in our city for the next countless generations" said Vancouver mayor Ken Sim at Thursday's news conference. "And so I would like to thank the Vancouver Whitecaps and our team members at the city of Vancouver, and there have been a lot of them, a lot of u

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