PCL Construction Management has been selected to build Regina’s new football stadium, the city announced Friday.

The multinational group of independent construction companies was among three shortlisted private consortiums vying for the contract to build the replacement for Mosaic Stadium.

PCL will be the construction and finance team lead for the $278 million project, and the consortium also includes the following firms:

- HKS Sports & Entertainment (lead design engineer and sports architect)

- B+H Architects (architect of record)

- TD Securities (financial advisor)

Design drawings and details of the agreement were not released during the announcement at City Hall.

Regina’s executive committee unanimously voted to select PCL as the "preferred proponent" for the project at a meeting Friday. The report will now go to city council for consideration on March 24.

The agreement is expected to be finalized within eight weeks, and construction is slated to begin this year.

If the deal goes ahead, a formal public announcement will be made and the design for the stadium will be unveiled.

PCL beat out Bouygues Construction Graham Community Partners and Clark Builders – Turner Construction in the request for proposals process for the project.

The new stadium is expected to open at Evraz Place in early 2017.