Cranbrook is hoping to play host to the 2017 Sportsnet Grand Slam of Curling.
At Monday night's meeting, city council agreed in principal to support a joint bid between the City of Cranbrook and the Cranbrook Curling Club to host the event, which would be held January 2017.
Chris New, the City's Leisure Development Manager, they are also still working with Sportsnet to figure out all the aspects of the event.
An agreement is still needed between the City and the Curling Club.
"So that's why we're here now — we want your support to continue this process before we sign a contract," New said.
New noted that the terms that city staff have proposed for the joint venture reflect those from the letter the curling club sent to council last month.
"We've gone to that model," New said.
To host the event there is a capped fee of $150,000 — of which the Curling Club would cover 60 per cent — up to $90,000 — and the City would cover 40 per cent — up to $60,000.
The fee is more of a liability than a certain cost, as the first $100,000 in ticket sales go directly back to the city/club.
"We explored some options to potentially go 50-50 into this, but we just don't know if we have the confidence yet to say if that model works for the City," New said, adding that hosting this event will be quite different from the Canada Cup of Curling, with no financial commitment necessary.
Profits from the Grand Slam of Curling, if there are any, will be split 50/50 between the two parties, and in the case there are losses the curling club will take up the majority at 60/40.
Council received a request from the Curling Club to join it in a bid back in April.