After years and years of talk and study, the Edmonton Oilers (NHL) are pushing the city to finally get an arena deal done by Halloween.
The $450-million arena deal is amazingly similar to what was originally pitched years ago: the Oilers will put up $100 million toward arena construction and put money into downtown redevelopment. There’s still one big hole in the funding formula: $100 million was sought from the province, but nothing has materialized.
Opponents of the new arena say this hole, as well as the lack of any deal with Northlands over the future of Rexall Place, should be grounds for yet more discussions and deliberations. Maybe, but with this arena deal fundamentally unchanged for years now, an impending deadline would force folks to make the really hard decisions and either move ahead with a new arena or tell owner Daryl Katz it’s time for him to evaluate the team’s future in Edmonton. Katz has been a lot more patient over this arena deal than most owners would be, but that’s apparently not winning him any points with city leaders.
RELATED STORIES: Oilers prep Plan B for new Edmonton arena; Alberta premier pitched on Edmonton arena funding; Tensions escalate over new Edmonton arena; Protesters object to Edmonton arena funding; Alberta: We’re open to some sort of Edmonton arena funding; Edmonton, Oilers reach agreement on framework of arena funding deal; Edmonton approves arena funding plan; Edmonton mayor lays out arena funding plan; Report: New arena needs 30-year commitment from Oilers; Complicating factor in Edmonton arena discussions: Northlands; Seat mortgages pitched for new Edmonton arena; City: New Edmonton arena would revitalize downtown; Oilers: No, we’re not moving to Quebec City; Oilers refine arena plan after public meetings; Katz ups arena offer to $200M; city willing to talk; Edmonton: New downtown arena financially feasible Katz: I will spend $100 million on new downtown arena; Edmonton: Cheaper to renovate than to build new downtown arena; Oilers arena zoning hearing delayed; Katz group submits arena application to Edmonton
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