Calgary Flames arena deal, owner Murray Edwards is one smart guy yyc yyccc Flames Column by sunrickbell:
The city council is selling what’s already been sold.
The Flames will put up $40 million and the city will bankroll the rest, with the hockey team getting a lease for what amounts to a present-day $316 million.Article contentThe city will not get cash from selling the name of the arena or putting a surcharge on tickets. That stays with the Flames.The city taxpayer will also pick up 50% of the cost overruns and the Flames will have the first crack at buying four nearby parcels of land from the city who will get the land from the province gratis.
Right before the election, Premier Danielle Smith was all excited for the arena and the culture and entertainment district.Article content The parking lot that is slated to be the location for a new arena in Calgary was photographed on Monday, June 5, 2023.Is the arena deal better for the city than the last deal city hall fumbled?Are the Flames committed to 35 more years in the city, in writing?Article content
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