CALGARY – The NHL’s Calgary Flames say that after over two years of negotiations with the city, the organization has concluded there’s no point in pursuing a new arena to replace the Saddledome.
In a statement released Thursday, Calgary Sports and Entertainment Corporation, owner of the Flames, says it sees no basis for an agreement with the City of Calgary on a new home in Victoria Park, just north of the 34-year-old Saddledome.
The club has revealed its final proposal for the arena, saying it was prepared to contribute $275 million toward construction of the city-owned complex.
The release says the team will strive to operate in the Saddledome for as long as it believes it’s feasible.
The city had proposed paying a one-third share of $185 million, with CSEC paying another third and the remaining third paid for via a surcharge on tickets sold to events in the new building.
Flames president Ken King contended the proposal amounted to the team paying the entire cost, or more, because the team considers a ticket surcharge revenue that belongs to them and because they’d pay property tax.