Calgary breaks ground on new arena/design unveiled

[mikecubs]

Calgary Flames likely to pull out of new arena deal, says Calgary mayor
Mayor Jyoti Gondek says the Flames are unable to uphold their end of the agreement

Calgary's mayor says the Flames intend to pull the plug on the events centre deal, meant to replace the iconic Saddledome in Victoria Park.

At a press conference Tuesday evening, Mayor Jyoti Gondek said she spoke with Murray Edwards, primary shareholder of Calgary Sports & Entertainment Corp (CSEC), who informed her the events centre deal would not be proceeding forward.

"I'm not exactly sure what is driving their position, but I can tell you that we have done our best to be accommodating and unfortunately, they're unable to proceed at this time," she said.

Earlier this year, it was revealed the controversial $550 million deal between the city and CSEC was as much as $60 million over budget. The arena is now projected to cost $608.5 million.

During the summer, both parties agreed to pay an additional $12.5 million for the arena, and that CSEC would cover any more cost overruns.


Gondek said since she was elected mayor late-October, her office has been working with the Flames owners to mitigate any additional costs on the project.

After costs for climate mitigation, such as solar panels, and right of way issues for road and sidewalks were identified, new costs totalled $16.1 million.

The mayor said the city asked CSEC to contribute $9.7 million of that amount, in addition to what had already been agreed on.

"It appears that they're unable to make that financial commitment following the approval of their development permit, so it would appear that they are ending the deal," she said.

No 'blame game'
Gondek said there doesn't need to be a "blame game" over the decision and that she is unaware how much else CSEC was seeking from the city in total.

"The deal that was struck in July of this year indicated that additional costs would be borne by Calgary Sports and Entertainment Corp. So according to that contract, the city can't come back with additional funding," she said.

The event centre project went before the Calgary Planning Commission in November, who approved the development permit. That was one of the final hurdles developers needed to clear before the start of construction, slated for January 2022.

The mayor said she is willing to further discuss the matter with CSEC.

"I know our administration is incredibly dedicated to this project as well. Unfortunately, the brakes have been put on it, and it is indicated by Calgary Sports and Entertainment Corporation that it's come to an end. So if there is more of a conversation to be had, certainly willing to engage, we will see.

City, Flames ownership each to pay millions more for new arena
New Calgary arena clears city hurdle after hours-long debate
In 2017, former Flames president of operations Brian Burke said the team could leave Calgary if a new hockey arena isn't built.

"You don't think we could find a place to go? With a straight face you're saying that. Let's see. Quebec. Oh yeah, they have a brand-new building that meets NHL standards," Burke said at the time.

Mayor Gondek said she is unaware what the circumstances are for the team at this time.

"The weight of this has been fairly heavy for all Calgarians, and we are just trying to process what happens next."

CBC has reached out to the Calgary Flames and CSEC but they have not yet commented on the matter.

www.cbc.ca/news/canada/calgary/calgary-flames-gondek-event-centre-1.6294621

[mikecubs]

CSEC STATEMENT ON EVENT CENTRE
Update on project

In response to numerous media inquiries this evening, Calgary Sports and Entertainment Corporation ("CSEC") provides the following update to the citizens of Calgary regarding the Event Centre Project.

CSEC's primary objective in pursuing the Event Centre Project has been to provide Calgarians a first class facility with an entertainment experience, not only for hockey, but for other events including concerts, comparable to other major cities. However, at this point, it is clear that the City and CSEC have been unable to resolve a number of issues relating to the escalating costs of the Project.

Accordingly, as the City and CSEC have been unable to resolve these issues, CSEC has determined that there is no viable path to complete the Event Centre Project.

When the agreements were first executed back in December 2019 the parties agreed to a cost sharing arrangement of 50%/50% with respect to the design and construction of the new Event Centre. In July 2021, with these costs increasing to $608.5 million, the City informed CSEC they were not able to fund their 50% share which, under the terms of the Project Framework Agreement, would have resulted in termination at that time. Instead CSEC agreed to fund a disproportionate share ($321 million to City's $287.5 million) and agreed to accept the risk of reasonable future design and construction cost increases related to the Event Centre in spite of our original 50%/50% agreement.

The most recent cost estimates place the total cost of the Event Centre at $634 million which means CSEC would be responsible for an additional $25.5 million of cost. The resulting cost sharing would have been $346.5 million for CSEC and $287.5 million for the City and, CSEC would continue to be responsible for further cost increases related to the construction of the Event Centre. Unfortunately, there are now $19 million of new cost items related to infrastructure and climate being insisted upon by the City for which they are seeking an additional $10 million in funding from CSEC.

While CSEC was prepared to move forward in the face of escalating construction costs and assume the unknown future cost risks, CSEC was not prepared to fund the infrastructure and climate costs that were introduced by the City following our July agreement and were not included in the $608.5 million and are not included in the current cost estimate of $634 million.

The failure of the City and CSEC to find a viable path forward was not based upon simply the "the last dollar" on the table; but rather was based upon the accumulated increase in CSEC's share of the costs, including the infrastructure and climate costs, the overall risk factors related to the Project and the inability of CSEC and the City to find a path forward that would work for both parties.

In summary, the primary reasons for this difficult decision include:

1) Introduction by the City of significant infrastructure costs ($15 million) and climate mitigation costs ($4 million); costs not previously identified as project costs by CMLC or the City nor included in the $608.5 million target budget in July 2021.

2) Continued cost escalation experienced since the approved budget of $608.5 million in July 2021. It has since grown to $634 million based upon design development that was completed in October 2021.

3) High level of risk associated with future project cost increases in part due to supply chain issues and commodity price escalation as a result of the impact of COVID.

While not ideal for Calgarians nor competitively for the Flames, the people of Calgary should understand that nevertheless CSEC's intentions are to remain in the Scotiabank Saddledome.

We are deeply disappointed with the outcome.

www.nhl.com/flames/news/csec-statement-on-event-centre/c-329204382

[mikecubs]

So the Flames owner is saying he is blowing up the deal over $9.7M for solar panels. That's insane if he is really blowing up a project like this over such a small amount. Bettman should step in if that is the case. If you lose a good market like Calgary over an amount like that the should just fold up shop and cancel the whole NHL.

I think either the Flames owner is posturing or like a lot of Flames fans are speculating is he got cold feel with inflation.

Me speculating maybe he thinks it's too much of a risk with covid. What if covid keeps mutating and you have to keep cancelling games/having half empty arenas? What's the point of a fancy arena that you are on the hook for $346.5M that can only be used in a half @ss manner?

[ekjet72]

On Dec 4 2019 I wrote:
"Call me in 3 (years) and see if this has gone as expected or sideways because AB and Calgary can't successfully wean itself from the oil and gas teat."
I vote on sideways.
Lots of disinformation out here on roll of policy support for Calgary Arena vs the Edmonton complex.
And I bet Randy Ambrosie is quaking in his boots right now. It was rumored the CSEC was looking to sell the Stamps last year. The ownership group doesn't see any profit in owning the Stamps and the last 2 years have been bad. And fan support is plummeting. So bad NHL news could possibly lead to bad CFL news as CSEC cleans house.

[ekjet72]

Mikecubs said, "What awful ownership both the Flames and Blue Jays have."
No kidding. Mr.Edwards fled the city, province and the country in 2015 when the NDP won the provincial election because he didn't want to pay the extra 2% tax and couldn't stand the thought of dealing with a new administration while the rest of us had no choice! Then he walked away from negotiations with the city twice before signing off on the latest deal. So if past history predicts the future, the end of the current deal was 100% certain. Negotiations certainly will sit idle until the world stabilizes for Mr. Edwards vis a vis COVID and inflation.

[Bruinsfan]

Dec 22, 2021 2:02:38 GMT -6 mikecubs said:

So the Flames owner is saying he is blowing up the deal over $9.7M for solar panels. That's insane if he is really blowing up a project like this over such a small amount. Bettman should step in if that is the case. If you lose a good market like Calgary over an amount like that the should just fold up shop and cancel the whole NHL.

I think either the Flames owner is posturing or like a lot of Flames fans are speculating is he got cold feel with inflation.

Me speculating maybe he thinks it's too much of a risk with covid. What if covid keeps mutating and you have to keep cancelling games/having half empty arenas? What's the point of a fancy arena that you are on the hook for $346.5M that can only be used in a half @ss manner?

100% agree with Mike absurd to walk away over that

the Flames could hit up the league for that cash and have it be paid off in prorated revenue sharing.

[mikecubs]

Jan 19, 2022 8:51:26 GMT -6 Bruinsfan said:

Dec 22, 2021 2:02:38 GMT -6 mikecubs said:

So the Flames owner is saying he is blowing up the deal over $9.7M for solar panels. That's insane if he is really blowing up a project like this over such a small amount. Bettman should step in if that is the case. If you lose a good market like Calgary over an amount like that the should just fold up shop and cancel the whole NHL.

I think either the Flames owner is posturing or like a lot of Flames fans are speculating is he got cold feel with inflation.

Me speculating maybe he thinks it's too much of a risk with covid. What if covid keeps mutating and you have to keep cancelling games/having half empty arenas? What's the point of a fancy arena that you are on the hook for $346.5M that can only be used in a half @ss manner?

100% agree with Mike absurd to walk away over that

the Flames could hit up the league for that cash and have it be paid off in prorated revenue sharing.

Don't think the league would allow that.

[mikecubs]

Signs of optimism surround Flames’ arena negotiations

Nearly a month after the City of Calgary and Flames ownership abruptly cut off negotiations for a new arena, there is optimism an agreement can be reached in the first half of this year.

Initially set to break ground in early 2022 a block from where the Saddledome currently stands, the original deal fell apart due to expense overruns related to climate mitigation and roads. Those overruns amounted to between $10 million and $20 million of the total facility cost of $608 million.

At a meeting in mid-January, city council – elected last October – voted to pursue a new agreement with Calgary Sports and Entertainment Corporation (CSEC), the parent company of the Flames. The difference now is that there would be a third party involved to shepherd the construction of the new facility – an arrangement more common in the United States than in Canada.

According to a source close to the negotiations, Oak View Group, founded by former Maple Leafs Sports & Entertainment CEO Tim Leiweke and has ownership stakes in Climate Pledge Arena in Seattle and UBS Arena on Long Island (among other facilities in North America), could be a candidate.

CSEC has yet to comment on council soliciting a third party to facilitate the construction of the new facility and declined comment to TSN on possibly re-entering discussions.

"Other cities have managed it differently,” mayor Jyoti Gondek said at a media conference earlier in January. “They've also got partners that are responsible for entertainment outside of sports. So, anything is possible at this point…I think it is a great way to ensure that everyone is getting what they need out of an agreement and a partnership by making sure there is a third party at the table, so that both interests are well-served.”

City council has a committee dedicated to the new arena project, including finding that third-party partner, and will present its findings in the spring.

That is surely welcome news for Flames fans pining for a new facility (opened in 1983, the Saddledome is the second-oldest rink in the NHL), as well as Calgarians hoping a new arena would help revitalize a downtown that has suffered from exorbitantly high vacancy rates due to oil prices bottoming out and the pandemic.

Despite the city council’s commitment to the facility, there remains the question of what the final price tag will ultimately be and just how much will be borne by the public.

Any major infrastructure project comes with a price, and should ground ultimately be broken, taxpayers will be footing the bill for at least some of the Flames’ new home. The city would have contributed more than $300 million to the construction of the new arena under the previous agreement. Several studies have shown, however, that taxpayer funding for professional sports facilities does not necessarily add to the city’s bottom line.

“Broadly speaking, the economic implications of [public funding for sports stadiums] are actually fairly minimal,” said Dr. Trevor Tombe, an economics professor at the University of Calgary.

“What it tends to do is shift economic activity across locations. So, if you were going to a game or going out for dinner at a bar or after, that’s spending from your household budget that would otherwise have gone to something else – maybe a restaurant or bar closer to where you live. An arena can change where that spending is done, so using something like an events centre to spur activity in a particular location in a city, that’s one thing. But for a city as a whole, the gains are pretty minimal, or almost nonexistent.”

Proponents of the project say the economic impact of a new arena would be felt by both hockey fans and non-fans alike and provide a major boost for Calgary as its downtown evolves and the city tries to lure residents into its core.

David Low, the executive director of the Victoria Park Business Improvement Area, points to Las Vegas’ T-Mobile Arena as an example for Calgary to follow.

“It is an amazing integration of arena and public realm, and interest,” he said. “You should be able to come down to the arena, not set foot in the building, not spend a dime, and still have an amazing experience. It’s got an amazing park. You can wander around…we could have done something or designed something of that nature. It’s designing that experience around the building. That’s where the real magic happens.”

Low feels that December’s arena impasse puts into doubt Flames ownership’s commitment to Calgary.

“This could have been a major catalyst to help get us out of the dumpster fire that we’re in, in terms of our single-track economy,” he said. “If you look at Las Vegas and Nashville right now, they are banging. Entertainment economies are some of the first to come back [from the pandemic]. So, to have that solid entertainment and culture engine would have been amazing…what should [CSEC] have done? They should have invested in Calgary and make us one of the top-three destinations in North America for conferences and events. That would have been the prize.”

In his December media conference announcing the deal’s termination, CSEC CEO John Bean did reaffirm their commitment to Calgary, saying that, “the people of Calgary should understand that nevertheless CSEC's intentions are to remain in the Scotiabank Saddledome."

For now, Calgarians will wait until the spring for further developments – and potentially longer on a new cost estimate – as the pandemic and the related supply chain disruptions go into a third year.

www.tsn.ca/salim-valji-signs-of-optimism-surround-calgary-flames-arena-negotiations-1.1751955

[mikecubs]

Bettman assures Flames are ‘committed to Calgary’ despite collapse of arena deal

Speaking at the 2022 NHL All-Star Game in Las Vegas, league commissioner Gary Bettman was supportive Friday of the Calgary Flames’ decision to skate away from a deal on a new downtown arena.

Their agreement with the City of Calgary crumbled in late December, with Flames’ ownership — having already committed to cover any construction overruns on the shared project — balking at a request that they foot the bill for about $10 million in added climate and infrastructure inclusions.

Bettman assures Flames are ‘committed to Calgary’ despite collapse of arena deal
Close sticky video

Mayor Jyoti Gondek first revealed on Twitter that Calgary Sports & Entertainment Corp., parent company for four local sports teams, intended to “pull the plug” on the event centre project.

“The Flames are committed to Calgary. They’re a vital part of the community,” Bettman told reporters prior to Friday’s skills competition in Las Vegas. “I think the mayor was just quoted as saying, ‘Well, now that the deal is off, everybody is a free agent.’ I think the club feels OK about that because the deal kept changing on them. I know there has been a change of administrations but each time they made an accommodation to try to deal with things that the city was asking for that weren’t part of the basic deal, the deal kept getting more and more expensive and frankly wasn’t what they had agreed to. And at some point, you have to say, ‘Enough is enough.’

“If this gives everybody an opportunity to take a fresh look at how to build a building, where to build a building in Calgary, maybe that’s not a bad thing. So yes, the city is a free agent but so is the club, and that’s good.

“My only concern, and it’s not a short-term concern but a long-term concern … ” Bettman continued, turning his focus to the Flames’ current rink. “The Saddledome needs work, which the city is going to have to put a bunch of money into. I think the sooner people figure out how to get a new arena, the better it will be, particularly because the cost of building a building keeps going up. These delays haven’t been helpful.

“The Flames’ ownership has tried mightily to get a deal done and to go the extra mile, and I think the city just pushed it too hard, too far, and it didn’t make sense.”

calgarysun.com/sports/hockey/nhl/calgary-flames/bettman-assures-flames-are-committed-to-calgary-despite-collapse-of-arena-deal

[mikecubs]

Council unveils committee to push for new Calgary event centre deal
Unnamed 3rd party to see if the Flames are still interested in being a partner

Calgary city council appointed a new committee Tuesday to push for a modern arena complex to replace the aging Scotiabank Saddledome, after a deal with the Calgary Flames fell apart last year.

There was no word, however, on the selection of a third party, which will be tasked with seeing if the Flames ownership group is still interested in partnering with the city, and to look for possible other funding partners.

"It will be public at some point, just not today," Mayor Jyoti Gondek told reporters Tuesday after closed door meetings with council.

A $600-million deal reached in 2019 between the city and the Calgary Sports and Entertainment Corporation (CSEC) collapsed late last year after CSEC walked away citing rising costs — but not before each side had spent up to $25 million each.

City council to discuss next steps in Calgary's arena saga
In January, the new city council voted to start again.

The new committee will include councillors Sonya Sharp, Dan McLean and Courtney Walcott. They'll be joined by Brad Parry, president of Calgary Economic Development, and Deborah Yedlin, president of the Calgary Chamber of Commerce.

"It will be very similar to the event centre committee of the past," Gondek said.

"They receive and review information submitted by administration as well as the third party, and then they make recommendations up to council."

Confused about Calgary's collapsed arena deal? City hall reporter Scott Dippel answers some FAQs
Coun. Sharp said speed is a priority.

"I think it is not if the event centre gets built, it is when the event centre gets built," she said.

"It is a great project. It is the heart of the Rivers District [Master Plan] and it's a catalyst for our city. I think everyone is in anticipation of when are we going to see some action on this file?"

That unnamed third party may look for other funding sources to lessen the cost to Calgary taxpayers.

Council had committed more than $300 million in arena-related costs in the deal that fell apart.

www.cbc.ca/news/canada/calgary/committee-to-push-new-calgary-event-centre-named-1.6377631

[mikecubs]

'Fresh start': Formal arena talks are back on between city, Flames corporation
This city is doing things differently this time by hiring consulting firm CAA ICON to represent Calgary at the negotiating table

The City of Calgary and Calgary Flames ownership are going back to the table in hopes of crafting a new arena deal, but this time the city has drafted some help for the negotiations.

The previous deal between the city and the Calgary Sports and Entertainment Corp. fell apart late last year over cost overages, just weeks before construction was set to begin on the $650-million project.

This city is doing things differently this time by hiring consulting firm CAA ICON to represent Calgary at the negotiating table.

The American-based firm has more than 20 years of experience in “planning, activating, designing, constructing and commissioning projects” for sports teams and cities around the world, according to the firm’s website.


Michael Thompson, general manager of infrastructure services for the city, said CAA ICON was retained as a “deal structure adviser” on the advice of third-party mediators who were brought on in May to help restart the talks.

Those third-party mediators are now stepping away, although the city may continue to call on them for expertise as the talks progress, according to event centre committee chair Coun. Sonya Sharp.

She called the new talks a “fresh start,” and said having those consultants in the city’s corner means the negotiation process will be “very different” than the previous time.

Calgary Flames owners walk away from arena deal

“This is their subject matter,” said Sharp. “They’re experts in this field and the City of Calgary went through the process to make sure that we have the right people in place for this next phase.”

Sharp said city administration and CAA ICON will work together on the talks with CSEC, and then report back to the event centre committee. The committee will in turn report to council on important decisions that need to be made.

She said a fresh start means pretty much everything is back on the table, despite the city and CSEC previously coming close to a deal that included design plans for an event centre.

“Between CSEC, City of Calgary and CAA ICON, they will have to decide what can they can learn from, what they can reuse, and what we can use to bring forward into further formal discussions.”

When asked if a new location could be possible, Sharp said the city is focused on building a new event centre “in the downtown.”

In a news release, CSEC president and CEO John Bean said the agreement is a chance to move forward.


“All parties share a collective desire to see a new event centre constructed in Calgary. We look forward to discussions with the City to see if we can find an acceptable path forward,” Bean said.

There’s no timeline for the parties to reach a formal agreement on a new event centre, though the city said it will “take the time necessary to reach an agreement that will meet the City and CSEC’s needs.”

Mayor Jyoti Gondek said she thinks Calgarians will be happy to learn arena talks are again moving forward.

“The committee and council had asked for patience as we built a relationship and figured out whether this was something that we could revisit, and it turns out that we can,” she said.

News of talks restarting was met with optimism by Brad Parry, president of Calgary Economic Development, who said the discussions could still take some time.

“I think it’s a great step, the fact that we’re speaking and having those formal discussions now,” said Parry. “We’re going to get it right, we’re going to keep doing this, but we’re not going to rush it.”

The collapse of the previous deal was not without costs. Last month, a city briefing revealed the city incurred $16.8 million in costs related to closing the failed event centre deal.

The event centre was previously promoted as a centrepiece of the city’s planned Culture + Entertainment District, which also includes the Stampede grounds, the BMO Centre convention complex and parts of 17th Avenue and the East Village.

Coun. Courtney Walcott, who sits on the event centre committee, said he’s hopeful a new event centre will eventually become a cornerstone in the city’s infrastructure as a place to grow Calgary’s culture.

“That’s why I’m so excited to be a part of this work because we know the significance of honouring our culture, and we know the significance of investing in ourselves,” said Walcott. “The future of our city, it’s changing because . . . we’re inviting so many more people from around the world to be a part of this culture.”

calgaryherald.com/news/local-news/city-flames-organization-restart-formal-arena-talks

[ekjet72]

Jan 4, 2022 9:34:59 GMT -6 ekjet72 said:

Mikecubs said, "What awful ownership both the Flames and Blue Jays have."
No kidding. Mr.Edwards fled the city, province and the country in 2015 when the NDP won the provincial election because he didn't want to pay the extra 2% tax and couldn't stand the thought of dealing with a new administration while the rest of us had no choice! Then he walked away from negotiations with the city twice before signing off on the latest deal. So if past history predicts the future, the end of the current deal was 100% certain. Negotiations certainly will sit idle until the world stabilizes for Mr. Edwards vis a vis COVID and inflation.

How close was that prediction. So Murray Edwards and CSE walk from a deal ostensibly about the cost of some minor improvements.And now people think he's going to engage in a meaniful way in this day and age of inflation. He is already looking at a 7% per annum jump in costs. Adjusted for the delay time that is roughly a 10% or $60M increase AND he still has to pay for those improvements. Maybe if he can off load the Stamps he can swallow the rise in costs. I don't believe anything about these negotiations, it's like your dealing with Putin. Say one thing and do the opposite! Look for Bettman to come in and insult Calgary's elected officials.

[mikecubs]

Calgary, province, Flames ownership ink $1.22B deal for new arena
There's no solid timeline for construction or preliminary designs at the early stage of the deal, Calgary Mayor Jyoti Gondek said

The City of Calgary has struck an agreement in principle with the provincial government and Calgary Flames ownership on a $1.22-billion deal to replace the Saddledome.

That site — 14th Avenue and 5th Street S.E. — is where the new arena will be built, alongside a smaller community rink for amateur games and Flames practices. The surrounding area will be redeveloped with a “suite of public amenities and public infrastructure,” officials said.

“A new event centre in Calgary is more than just a building. It’s foundational infrastructure,” said Coun. Sonya Sharp, who chaired the city’s committee tasked with reaching a new deal.

“It’s not a single venue or a single building. This is a district, and one that will serve every member of our community. The completed district will attract new people, more events and greater investment.”

There are no preliminary designs or timelines for construction at the early stage of the deal, Mayor Jyoti Gondek said.

As costs increase, deal to be split three ways
The $1.22-billion price tag doubles the cost of the previous deal, which initially rang in at $550 million before cost escalations pushed that bill to $634 million.

And where that previous deal was built around a 50-50 cost split between CSEC and the city, the new agreement sees the bulk of costs covered by the municipal and provincial governments.

Sharp said aside from money already set aside from the previous failed project, the city will pay the remaining costs out of the fiscal stability reserve, meaning homeowners will not see their taxes increase because of this deal.

The event centre will cost an estimated $800 million and will be owned by the city.

The Flames are on the hook for $356 million for the deal, with much of that coming yearly over the next 35 years.

The province is putting $330 million toward the project, money that largely covers infrastructure and land costs, as well as demolition of the Saddledome.

Provincial contributions have to be approved after election
Premier Danielle Smith said the government investments were made with an eye to being “respectful to provincial taxpayers.”

“We made it clear from the start that although the province would not invest in the actual construction or operation of the arena itself — that was the responsibility of the city and the Flames — the province would be willing to invest in supportive infrastructure for the arena, the Stampede and the expanded BMO Centre,” Smith said.

The provincial money comes just days before the writ is expected to drop on a provincial election, with campaigning already begun. Calgary is seen as the key battleground in the upcoming election.

The province’s contributions to the arena deal have to be approved by provincial cabinet by the end of summer. Smith presented that as a possible “hurdle” in getting the deal across the finish line.

“That’s why on May 29, I’m hoping Calgarians give our UCP government a clear mandate to proceed with this arena deal,” she said.

‘Due diligence’: NDP would review deal if elected
In a statement Tuesday evening, Alberta NDP Leader Rachel Notley said her party would review the deal before making any commitments on funding if they are elected.

She voiced concerns over the increased cost of the new deal and the share which would be covered by governments.

“The commitment has increased. We believe all voters would expect their elected representatives to do due diligence on the economics and fiscal value of a capital project this size,” Notley said.

Sharp said she expects the next provincial government — whether that is the UCP or the NDP — to approve the funding.

“I think that we all very much realize that the money is coming from the Government of Alberta regardless of the party,” said Sharp. “We’re talking about a government, and we as a committee and as a city and as a council would expect that the next party, if they’re in place, would honour that.”

The Calgary Stampede, meanwhile, has agreed to land sales and transfers that allow for development on the Victoria Park land.

Flames could get draft, all-star game: CSEC
CSEC president and CEO John Bean said he spoke with National Hockey League commissioner Gary Bettman on Tuesday, and was told the Flames would be added to a hosting rotation for the NHL draft and all-star game events.

He said the deal represents the team’s desire to bring a championship team to the city.

“While there are many ups and downs to professional sport, there can be no doubt that our ownership group wants to win championships for all of our fans in Calgary,” Bean said.

The city inked its previous arena deal in July 2019, but that collapsed when Flames ownership walked away from the table in December 2021 over rising costs, only weeks before the project’s official groundbreaking. Closing up the failed deal cost the city $16.8 million.

The city returned to the negotiating table with CSEC in October of last year represented by consulting firm CAA ICON; no city officials or politicians were at the table for the negotiations.

The UCP government has indicated its desire to help move the arena deal across the finish line since last October, when Smith was elected the party’s leader. She penned a letter to the city and CSEC then offering her support for the project, and appointed Calgary MLA Ric McIver as a point man on the negotiations, though he was not at the negotiating table.

City council met earlier Tuesday for a regular meeting and immediately went behind closed doors to discuss the event centre. When they returned, councillors unanimously voted in favour of authorizing the afternoon’s announcement.

That unanimous approval represented the final step in making the long-awaited agreement public.

calgaryherald.com/news/local-news/calgary-event-centre-update

[mikecubs]

So the arena itself cost $800M Canadian

Overall the project breaks down like this

Total Cost 1.22B

Flames-$356M
City-$537M
Provience-$300M

[iceland2018]

The Flames have been wanting a new arena for a decade. It's funny in the sense that even though the Saddledome turns 40 this year, and I guess the team is just trying to compete with other markets (I really don't think the Saddledome is that bad), what Calgary DESPERATELY needs is a new stadium.

McMahon Stadium is, by far, the worst stadium in the CFL. It was built in the 50s, and is woefully inadequate. Considering how much money the city had, one wonder why they have not constructed a 40,000 seat stadium the way smaller cities like Regina, Winnipeg, Hamilton, and Ottawa have. Even Vancouver and Montreal have upgraded their respective stadiums.