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In the wake of Calgary Sports and Entertainment Corporation, which owns the Calgary Flames, saying that rising costs associated with a new event centre in the city are preventing the organization from pursuing the project, CEO John Bean will address the media.
Though ownership quickly pledged to keep the Flames in the Scotiabank Saddledome, news of the project falling through marked the latest setback in the team's pursuit for a new home.
Earlier Tuesday, Calgary Mayor Jyoti Gondek announced that CSEC chair Murray Edwards had informed her the organization intended to pull out of a deal -- originally struck in 2019 -- that would see the company and city split the costs of a new $600-million multi-use event centre, which would include an 18,000-seat arena. This July, the two sides renegotiated the contract and CSEC agreed to assume more than 50 per cent of the overall costs, now estimated to total $634 million.
In a statement and subsequent press conference, the mayor cited a disagreement over how much each side would cover costs related to "climate mitigation" and "road/sidewalk right of way issues" as the reason CSEC was withdrawing from the deal.
https://news.google.com/__i/rss/rd/articles/CBMia2h0dHBzOi8vd3d3LnNwb3J0c25ldC5jYS9uaGwvYXJ0aWNsZS93YXRjaC1saXZlLWNhbGdhcnktc3BvcnRzLWVudGVydGFpbm1lbnQtY2VvLWpvaG4tYmVhbi1hZGRyZXNzZXMtbWVkaWEv0gFqaHR0cHM6Ly93d3cuc3BvcnRzbmV0LmNhL25obC93YXRjaC1saXZlLWNhbGdhcnktc3BvcnRzLWVudGVydGFpbm1lbnQtY2VvLWpvaG4tYmVhbi1hZGRyZXNzZXMtbWVkaWEvc24tYW1wLw?oc=5
2021-12-22 19:49:00Z
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