A report from city staff to Halifax Regional Council says without funding from the province, the federal government, or the private sector, the city simply can't afford to go ahead alone with the construction of a stadium.
Mayor Peter Kelly's dream of building a stadium may not be dead, but it appears Halifax Regional Council will soon hit the pause button.
"This was the time, but unfortunately it wasn't to be," says Kelly. "I don't know what else we could have done."
The recommendation also means that Halifax's hopes of hosting the FIFA Women's World Cup have been kicked aside.
However, a new facility remains on the city's wish list and if one gets built, Shannon Park will likely be the future location.
"We have a preferred site, which is Shannon Park," Kelly confirms. "So we'll continue to have dialogue... to see if it is a possibility to create that ground field as an economic opportunity, or catalyst for the future."
Kelly says the $60-million price tag remains the key obstacle. The city put $20-million on the table, but other partners did not come forward.
"I think that this city will have a stadium," says Sport Nova Scotia CEO Jamie Ferguson. "I think it's important that we continue to move forward."
Ferguson says missing out on two FIFA World Soccer events in 2014 and 2015 is a blow to the city.
"I'm disappointed, obviously" says Ferguson. "I think that event was going to be a tremendous event, and the value of the event, not just for the stadium itself, but for the economic impact on the city would have been significant."
With Halifax bowing out, Moncton has one less competitor as they vie for FIFA hosting rights.
Kelly says a stadium will be built sometime in the future – not in time for the 2014 deadline, but soon enough to host future world class events.
With files from CTV Atlantic's Paul Hollingsworth
