The Sherbrook Pool no longer has to worry about staying afloat, after the heritage building got a $1 million donation from the Kinsmen Club of Winnipeg.
Mayor Sam Katz made the announcement in his state of the city address Friday.
The city had already commited $1.7 million for repairs, but another million was still needed.
The pool was closed in 2012 due to structural concerns.
President of the Sharks Swim Club, Karla Dueck Thiessen, said she is thrilled with the news.
"We hadn't heard anything about the Kinsmen donating money," she said. "We kind of had lost hope. But with a backer like this, it gives us full confidence that the Sherbrook Pool will be open."
The Sharks have been swimming at the Cindy Klassen pool since the closure.
Dueck Thiessen said the club will be relieved to get home.
"We have missed that pool,' she said. "It is the heart of our community. We need it back and so this gives us hope that it will be open soon. And we just couldn't be happier."
In a news release, the city said it will set up a sponsorship agreement with the Kinsmen Club and the contribution will be formally acknowledged with name recognition.
“Our club has 25 members who contribute thousands of volunteer hours to support community initiatives,” said Raj Phangureh, President of the Kinsmen Club said in the statement.
“We are looking forward to the grand re-opening of the Kinsmen Sherbrook Pool and seeing swimmers of all ages return to this historic building.”
Marianne Cerilli of Friends of Sherbrook Pool, which has been advocating for its survival, said the group has been told the pool could re-open in January 2015.