City, team, province announce finalized deal for new $800M arena for Calgary Flames
By The Canadian Press on October 5, 2023.
CALGARY – The deal is sealed – the NHL’s Calgary Flames are getting a new $800-million arena. Calgary Mayor Jyoti Gondek says the preliminary deal announced in April for a new $1.2 billion events centre and entertainment district near the city’s downtown has been finalized. The deal includes the new home for the Flames hockey team, with an opening date expected around 2027, and officials say the four-way cost sharing arrangement has not changed. The Alberta government is committing a maximum $330 million for area infrastructure and to cover half the cost of a new community rink that would be attached to the Flames arena. The City of Calgary is to put in $537 million, and the group that owns the Flames is to pay an initial $40 million then $17 million a year over the course of a 35-year lease. The rink is to be built near the team’s current Saddledome rink, which has been its home for four decades. This report by The Canadian Press was first published Oct. 5, 2023 8-7
