Breaking: “There is no point” to continue for the Flames

Calgary Flames president Ken King said last week that he would release details of his proposal for a new arena in Calgary and, he did just that on Thursday morning. 

The Flames say they were willing to fork over $275M for a new arena built in Victoria Park. The city would have had to come up with $225M through what they call a Community Revitalization Levy, which the group explained would be generated from new developments in the area and not from existing tax sources.

King revealed that the funding model that the city released last week did not accurately define the Flames contribution to the new development.

In the report, the team reiterated their stance on the collapse of arena talks with the city of Calgary, saying that there is no agreement that can be reached. 

“After two years of discussions, the Flames see absolutely no basis upon which a new agreement can be achieved with the city and have concluded that there is no point to continue the pursuit of a new arena in Calgary."

Hence, the Flames will continue  to use the Saddledome for as long as they believe they can, since they sincerely believe Calgary is a great place for NHL hockey.