A Richmond city councillor is asking for the dismantling of the Richmond Olympic Oval Corporation and to transition the facility into one that is more “inclusive and sustainable.”
Coun. Kash Heed is putting forward a motion at the July 7 general purposes committee meeting to “initiate a more accountable and contemporary structure for the Richmond Olympic Oval.”
The Oval has been run as an arm's-length facility since it was repurposed after the 2010 Olympics. Its sole shareholder is the City of Richmond.
According to the motion from Heed, the city has subsidized the Oval to the tune of $53 million between 2010 and 2025.
In his rationale for the motion, Heed calls for a “more inclusive and sustainable model.”
“This could lead to improved management, enhanced access to sports facilities, and a fairer allocation of financial resources,” he added.
He further added that council at times feels “out of touch” with decisions made at the Oval, and often “budgets and initiatives are determined without council input, leading to decisions that may not align with community needs.”
Heed is calling for the maximum annual contribution by the city to be capped at $2.5 million, and that the city look at “dismantling the Richmond Olympic Oval Corporation while identifying an alternative structure/framework and governance” by early 2027.
According to the latest Statement of Financial Information (SOFI), former Oval CEO George Duncan was paid more than $582,000 in 2024 although he resigned his post in July 2024. This included a base salary of about $210,000 and taxable benefits and other payments of about $372,000.
Four other staff members earned more than $150,000 in 2024, according to the SOFI report, including Gerardo De Cicco who earned almost $238,000 in base salary and $56,000 in benefits.
Ongoing forensic audit
The Richmond News understands the city is conducting a forensic audit of the Oval going back to 2012.
Among other investigations, the audit will look into whether there’s been any fraudulent activity during this time and whether there were any questionable transactions.
Richmond city spokesperson Clay Adams told the News last week the city “routinely” does audits and reviews of its operations and subsidiaries, but they don’t comment on them.
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