Flames ownership stand to make HUGE money off the valuation of the Flames and their equity interests if an arena is built. If the city fronts the majority of the money, the owners benefit massively. They aren't sharing that increase in value and equity with the city.
Calgary is a terrific NHL market. It's one of the best in the league. If the Flames ownership threaten to leave or do leave, I say good luck. Another rich billionaire, willing to build the stadium on more palatable terms, will arrive and NHL hockey will eventually be back.
This city is too important for the NHL to have the ownership group lose out on profiting off of it for the next few decades.
At the end of the day, the negotiation between the city and ownership group for CalgaryNEXT... it's just tough to see bridging these gaps because they've started too far out. They'll claim their negotiating and moving, but they're never going to get to a reasonable place unless they do the large majority of the moving.
So then they'll threaten to leave, and I hope at that point the city sticks to its guns and says fine, see you later, unless you're willing to give the city a stake in your team and equity and profits.
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