The Virgin Music Festival is taking over Ryerson University's party destination for this year's annual parade.

This September will mark the fiftieth anniversary of celebrations that usually go down Yonge Street and end on Olympic Island with a picnic and concert. The Student Union events coordinator told The Eyeopener that despite sending an email nine-months in advance, the Virgin Festival was able to secure a permit and would need the day of the Ryerson parade and party to set up.

The event coordinator felt that Ryerson was ignored because of the mounds of money Virgin would bring in and noted that Ryerson does not have the leverage to compete with a "huge multi-national" like Virgin Mobile, the festival's sponsor.

With no plans to change the date, traditionally held on the first Friday of September, alternate venues, including Hanlan's Point, are still being considered.

Photo from olympicisland.com