David Asper says his new stadium proposal could be a reality by 2010. Asper released his new plan Friday, after weeks of media speculation.

The $400 million plan would see a state of the art stadium built with an inflatable bubble that could be used year round. It would also include a water park, a bike path, and a bridge across the Red River to its new location in Point Douglas.

The new proposal is getting a preliminary nod from all three levels of government. Premier Gary Doer says the project's price tag of $25 million for the province is doable. Asper's previous proposal for a new stadium at Polo Park would have cost the province $40 million.

If the proposal meets with approval at all three levels of government, there will still be a lot of work to do. The waterfront proposal requires moving several Point Douglas homes, along with major traffic and infrastructure upgrades including the relocation of Higgins Avenue to run around the new stadium.

The Blue Bombers football club has not commented on the new proposal.