I'm sure it's been said before, but the Flames happily sat on the sidelines watching the Oiler's arena debate. Once there was an outcome from that negotiation they would know if the province kicked in funds and have a template to negotiate with the city.
Roger's Place cost $613.7m, including:
1. Arena
2. Wintergarden
3. Pedestrian Corridor
4. LRT connection
5. Community downtown arena
6. Arena land
Katz paid $27.7m upfront, and the city leased him the other $137.8m (@2.8% interest that's $6.23m/yr in payments)
The rest of the arena is funded with a ticket tax and CRL, to which the city of Edmonton fronted the $448.2m remaining.
Edmonton also signed a $2m/yr advertising deal with Katz for 10yrs.
Katz pays all operating costs and receives 100% of revenue from the building.
In the end Katz put 5% down and got a free arena. The Flames led with a proposal to the city similar to this deal and Nenshi said no.
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