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The arena deal returns to city council next week

Roughly 18 months after the project was last debated publicly, Calgary’s new arena deal returns to the chambers of city council next week to debate the existing agreement. The funding package and deal structure for the anticipated future home of the Calgary Flames is on the agenda for the July 5 council meeting, but changes to the finances aren’t expected.

The current $550 million arena deal was agreed to in July 2019 and fully signed in December 2019, with the Calgary Sports and Entertainment Corporation (CSEC) putting in $275 million to build and operate the facility and the City of Calgary putting up $290 million to build and own the facility and tear down the city-owed Scotiabank Saddledome.