CALGARY — A city official says a $1.2-billion deal to replace Calgary's aging Saddledome with a new National Hockey League arena would come with a 35-year lease that includes a commitment from the owners of the Calgary Flames to stay in the city.
The City of Calgary, Alberta government, Calgary Sports and Entertainment Corp., and Calgary Stampede reached an agreement in principle in late April.
City council's event centre committee met this morning and asked administration some of the questions that have come up since the deal was announced.
Coun. Andre Chabot says there are concerns from some Calgarians that the lease could be terminated.
Calgary's general manager of infrastructure services, Michael Thompson, says the city has a commitment from Calgary Sports and Entertainment Corp. that it would stay in the city for the 35-year term of the lease.
No one from the company could immediately be reached for comment.
CSEC owns the Flames in the National Hockey League, the Wranglers in the American Hockey League, the Hitmen in the Western Hockey League and the National Lacrosse League's Roughnecks.
The $1.2-billion price tag for the event centre project includes $800 million for the new arena, as well as parking, transit improvements, a new community rink and an enclosed plaza.
The Alberta government is not contributing directly to the arena, but has said it plans to fund up to $300 million on public transit and road improvements, site utilities, reclamation and other supportive infrastructure.
The province would also contribute $30 million to cover half the cost of the 1,000-seat community rink if the deal is approved by provincial cabinet and the Treasury Board before the end of summer.
This report by The Canadian Press was first published June 5, 2023.
The Canadian Press