CalgaryNEXT was just a moronic proposal. There wasn't enough there to convince people in the current economic climate. And the amateur renderings due to lack of preparation to that point made it all the more embarrassing.
The fact that there wasn't a plan B or C even given real consideration made it much worse.
If the Flames didn't take the Stamps under its wing maybe we'd be looking at a new hockey arena going up in two or three years. The fieldhouse/stamps/olympics aspirations just furthered the timeline by who knows how many years.
Just get a new damn arena in. At least that's feasible in the relatively short term.
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