VIDEO: Calgary, Flames agree to terms on new NHL arena

The proposed 19,000-seat facility would replace the Saddledome at an estimated cost of $550 million

A new NHL arena in Calgary is closer to becoming a reality.

The city, the Calgary Flames and the Calgary Stampede have agreed on terms for an event centre that would become the new home for the Flames and replace the 36-year-old Saddledome.

City council has yet to approve the deal, but details were unveiled at a news conference Monday evening at city hall.

The estimated cost of the proposed 19,000-seat venue is $550 million.

The cost to build it would be split equally between the city and Calgary Sports and Entertainment, which owns the Flames, the Western Hockey League’s Hitmen, CFL’s Stampeders and National Lacrosse League’s Roughnecks.

Council is expected to vote on ratification next week. If the deal is approved, shovels go in the ground in 2021.

“This is a good deal for Calgary,” Mayor Naheed Nenshi said at a news conference.

“For some years now I have been saying that any investment in public money in this project must come with public benefit. This deal does that.”

The vision for the venue is for it to be multi-purpose with portions that can be sectioned off for art installations and concerts of different types, as well as sports.

The new building on a parcel of land north of the Saddledome would be the heart of a larger revitalized commercial and residential district east of downtown near the Stampede grounds.

In the deal proposed Monday, CSEC will not relocate the Flames during the 35-year term.

“There was never a sense of us wanting to be anywhere else. You can’t make that statement any more boldly than having your owners write a cheque for $275 million,” CSEC vice-chair Ken King said at the news conference.

King speaks for Flames owners Murray Edwards, Alvin Libin, Clayton Riddell, Allan Markin and Jeff McCaig,

“This is a huge cheque for them to write at a very difficult time in our city’s economy and a global economy and that’s a powerful statement on their part,” King said.

The city would own the event centre.

CSEC would cover all operating, maintenance and repair costs during a 35-year licensing and management agreement with the city, with clauses to extend that term.

It would also retain all revenues generated by the event centre, but the city would get a facility fee on every ticket sold to every event for 35 years — estimated to be $155 million — receive a share of naming rights and collect any additional property tax from businesses that spring up in the area.

The city vowed in its proposal that the new arena would not increase municipal property taxes.

Donna Spencer, The Canadian Press

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Alberta has 3,651 active cases of COVID-19. (File photo)
432 new COVID cases sets another record Friday

Central zone holds steady at 126 active cases

"We are looking seriously at the spread and determining what our next steps should be," says Alberta’s chief medical officer of health, Dr. Deena Hinshaw, as the daily number of COVID-19 cases continues to climb.
427 new COVID cases is highest in Alberta ever

Central zone has 126 active cases of COVID-19

COVID-19. (Image courtesy CDC)
Temporary COVID-19 testing sites coming to Wetaskiwin and Ponoka

The Wetaskiwin location will open Oct. 23, 2020 and the Ponoka location will open Oct. 29.

COVID-19. (Image courtesy CDC)
City and County of Wetaskiwin reporting active cases

Both the City of Wetaskiwin and County of Wetaskiwin have active cases.

Alberta chief medical officer of health Dr. Deena Hinshaw updates media on the Covid-19 situation in Edmonton on Friday March 20, 2020. nbsp;Alberta is reporting it's highest daily number of COVID-19 cases, with 364 new infections. THE CANADIAN PRESS/Jason Franson
Alberta confirmed 323 COVID-19 cases Tuesday

Central zone active cases at 145

B.C. Liberal leader Andrew Wilkinson, B.C. NDP leader John Horgan and B.C. Greens leader Sonia Furstenau. (Black Press Media)
VIDEO: One day until B.C. voters go to the polls in snap election defined by pandemic

NDP Leader John Horgan’s decision to call an election comes more than a year ahead of schedule and during a pandemic

Ryen Williams, 11, with a lost miniature horse at JJ Collett Oct. 23. Photo by Don Williams
UPDATE: Owners found

Father and son found him while out for a walk at JJ Collett

A Le Chateau retail store is shown in Montreal on Wednesday July 13, 2016. Le Chateau Inc. says it is seeking court protection from creditors under the Companies’ Creditors Arrangement Act to allow it to liquidate its assets and wind down its operations.THE CANADIAN PRESS/Ryan Remiorz
Clothing retailer Le Chateau plans to close its doors, files for CCAA protection

Le Chateau said it intends to remain fully operational as it liquidates its 123 stores

U.S. border officers at the Peace Arch crossing arrested two men on California warrants this week. (File photo)
Ottawa predicts system delays, backlogs unless court extends life of refugee pact

Canada and the United States recognize each other as safe places to seek protection

Conservative member of Parliament Michelle Rempel Garner, left to right, Conservative Leader Erin O’Toole and Conservative Deputy Leader Candice Bergen arrive to hold a press conference in Ottawa on Thursday, Oct. 22, 2020. THE CANADIAN PRESS/Sean Kilpatrick
No-confidence showdown over sweeping Tory motion on government handling of pandemic

The Conservative motion is to be put to a vote Monday and has the support of both the Bloc Québécois and NDP

From l-r., first lady Melania Trump, President Donald Trump, moderator Kristen Welker of NBC News, Democratic presidential candidate former Vice President Joe Biden and his wife Jill Biden on stage at the conclusion of the second and final presidential debate Thursday, Oct. 22, 2020, at Belmont University in Nashville, Tenn. (AP Photo/Patrick Semansky)
Trump, Biden fight over the raging virus, climate and race

Republican president declared the virus, which killed more than 1,000 Americans on Thursday alone, will “go away.”

JJ Collett Natural Area Foundation held its AGM on Oct. 19 at the Ponoka Legion. (Emily Jaycox/Ponoka News)
De-listing Alberta parks creates ‘risk’ for coal mining: CPAWS

Canadian Parks and Wilderness Society speaks at JJ Collett AGM

(File photo)
Ponoka’s seen rise in relationship ‘disharmony,’ domestic violence during COVID-19

While there has been an increase in files, not all have required charges to be laid

ACC President and CEO Ken Kobly spoke to Ponoka Chamber of Commerce members over Zoom on Oct. 20. (Image: screenshot)
Alberta chambers are ‘411’ to members, government: ACC president

Changes to government supports, second wave and snap election

Most Read