A long standing bar in Saskatoon's Broadway District may be getting new life thanks to a member of The Sheepdogs.

CBC News has learned that a group of Saskatonians, including a member of The Sheepdogs are working on new music venue for the city. The group has purchased memorablia like lamps and artwork, as well as sound equipment from Lydia's Pub. The longtime Broadway bar closed for good on Monday after rumours surfaced on social media. 

The information comes from Mitchell Lupichuck, one of the buyers. Lupichuk says the investors plan to move the contents to a new downtown 1st Avenue location, a building which is currently housing Tramps music store.

Lupichuk told CBC that the music venue will be created upstairs. This is not the first time the location has been a venue for live music. It was Crawdaddy's, a Louisiana Bar and Grill about 10 years ago.

"What we want to provide is a new venue that stays true to the great local music scene that we have but, at the same time, has the capacity to support larger acts," says Mark Wiegers, also an investor on the project.

Lupichuk says it's unclear whether the Lydia's name will go with the new venue. They hope to open it later this fall.