Tourism Saskatoon is putting together a bid to host the 2020 Juno Awards.

“We’ve submitted some materials. The issue right now is getting the financial package together,” said Todd Brandt, the executive director of Tourism Saskatoon.

Brandt said it costs about $1.5 million to submit the bid. The money comes from a combination of private investors and government funding.

Saskatoon tried to bid for the 2019 Junos but was unable to raise the money needed to apply. Brandt said he’s more hopeful this year.

“The optimism and enthusiasm around the economy wasn’t there, we feel it is now. We’re hoping there’s a better opportunity now to work with private sponsors and investors to pull this thing together,” Brandt told CTV News.

The award show is estimated to bring $10 to $12 million into the local economy, according to Brandt.

The bridge city hosted the Juno Awards once before in 2007. Brandt said Saskatoon is much better positioned than 11 years ago with more venue space for live music.

“We have 3,000 more seats at SaskTel Centre than we had in 2007. We got the Remai Modern, which would be a phenomenal reception venue,” Brandt said.

Tourism Saskatoon aims to have its bid submitted by the end of December.