REGINA -- Mosaic Stadium was supposed to host the Grey Cup this fall, but the event could be cancelled amid the COVID-19 pandemic.

The Canadian Football League has asked the federal government for financial assistance, cancelled its combines, and pushed the season start date back to July 1.

Many, including TSN football insider Dave Naylor, have their doubts on whether or not the CFL 2020 season will even take place.

“In my personal opinion, I don’t think there’s going to be a 2020 CFL season,” said Naylor, speaking with CTV News last week.

Naylor also says it’s an opinion that an increasing number of players, coached and agents in the CFL also share.

Perhaps the biggest loser if this situation transpires would be the City of Regina. Cancelling the Grey Cup could have a devastating impact on the Queen City’s economy.

“When you have more than 33,000 people coming to (Regina) but you also have the people in our city spending more money as well. So the spinoffs are significant,” says Regina Mayor Michael Fougere.

In February of 2019, Economic Development Regina predicted the Grey Cup festival would bring $73 million into the City’s economy. The province would profit by an additional $22 million.

When Regina hosted the Grey Cup in 2013, the city saw an economic impact of $93 million. Leading up to the 2020 Grey Cup, the City has already spent $1 million on the festival.

“Half of that $500,000 is cash, the other is ‘in kind’, and there’s about $600,000 for helping security with the RPS as well,” Fougere said during a city council meeting.

According to the Regina Chamber of Commerce, the hotel and hospitality business sectors will be impacted most if the Grey Cup is cancelled.

In early March, Tourism Saskatchewan announced it would contribute $3 million to support the Grey Cup. In a statement to CTV News, the Government of Saskatchewan said it “has been in contact with the Grey Cup Organizing committee while monitoring to see how the CFL season is to proceed, however no decisions have been made as it is still too early.”

“At this time, $1.5 million has been paid to the Grey Cup Festival Committee in support for hosting this event. Should the Grey Cup be cancelled, we will pursue options for potential reimbursement,” the province said.

It’s possible the CFL may want to cancel the season, but is waiting for the government to initiate it.

“If you cancel your event, you may be still contractually obligated to some things,” says Naylor. “Whereas if the government shuts you down and says you can’t hold this event, we’re not going to let you, it may free you from some obligations that you might still have if you pulled the pin yourself.”

The Saskatchewan Roughriders are expected to release their 2019-20 financial statements by the end of May, meaning it’s not clear how much they’ve spent with regards to the Grey Cup yet.

The Riders organization has put a freeze on non-critical spending towards the Grey Cup until there’s more clarity.