[News] Ken King: Flames' owners no longer pursuing new arena with City of Calgary

[DJones]

Not sure why everyone's so surprised. No one would spend a billion dollars to make 20 million a year. I wouldn't pay for infrastructure either.

Obviously Nenshi's offer to be at the center of his pet project wasn't incentive enough.

[Jay Random]

Originally Posted by HotHotHeat

Just read the Seattle Key Arena proposal is...Wait for it... Privately financed.

The Seattle market is… wait for it… three times the size of the Calgary market.

[Robbob]

I don't think that the NHLPA would do anything considering last season the flames were a recipient of revenue sharing, so at best they sit at 16th. I don't know where they will be in 5 plus years. If the flames ownership moves to anywhere that increases overall revenue they won't care if it means leaving this market.

[corporatejay]

Originally Posted by Jay Random

The Seattle market is… wait for it… three times the size of the Calgary market.

Why can't they keep playing in the dome then?

[You Need a Thneed]

Originally Posted by IamNotKenKing

There is an offer from CSEC to the City.
The City has not, and apparently will not, respond.

It is not CSEC wanting the City to figure it out, but CSEC actually wanting a response so it knows where it stands.
No response is not an option.

Sorry, are you talking about CalgaryNext? If so, the city did respond.

The Flames haven't proposed anything else (at least that anyone in the public knows about).

[Resolute 14]

Originally Posted by Tinordi

NHLPA case would be based on the fact that the Board was making decisions to deliberately reduce HRR without consulting or getting the approval of the PA.

Not only is that unprovable, but there's no language in the CBA that would forbid the NHL from making such a move. Also, under that same logic, the NHLPA should have sued the owners for putting the expansion team in Vegas instead of Quebec City.

There's no chance on earth that the owners would have surrendered control of their franchises to the CBA.

[N-E-B]

This is just disappointing to read. Don't know what else to say.

#### off King, Edwards, and Bettman.

[IamNotKenKing]

Originally Posted by You Need a Thneed

Sorry, are you talking about CalgaryNext? If so, the city did respond.

The Flames haven't proposed anything else (at least that anyone in the public knows about).

No, I am not talking about CalgaryNEXT.
Yes, they have made a proposal.

[Robbob]

Originally Posted by You Need a Thneed

Sorry, are you talking about CalgaryNext? If so, the city did respond.

The Flames haven't proposed anything else (at least that anyone in the public knows about).

The flames responded to the vic park solution. I remember at a flames STH event back in mid June that they sent something to the city.

[topfiverecords]

Originally Posted by IamNotKenKing

Please don't call me a liar.

So you're not Ken King?

[Roof-Daddy]

Why do people think Flames ownership would (or should) roll over and take it up the hoop when they just watched Oilers ownership get handed over $300 million for their new arena?

They are not going to privately fund a new arena.

If you want the Flames to stay in Calgary long term you are going to have to help pay for the new arena or eventually some other city will.

If you don't want to help pay for it (in the form of public funding) then fine, but you can't really piss and moan about it when they talk about potentially moving on to a place that will help them fund a new arena.

[Senator Clay Davis]

Originally Posted by Jay Random

The Seattle market is… wait for it… three times the size of the Calgary market.

The Seattle market is also...wait for it...a much worse hockey market, and despite what people think, is just as likely to be a total failure than a success.

[lvsteven]

Originally Posted by Jay Random

Based on the experiences of private arena builders in Montreal, Vancouver, and Ottawa, if a new arena cost $450 million to build, it would have a market value of something like $300 million the day it opened. The rest of the construction cost would be basically unrecoverable.

You want a business decision? How about not pissing $150 million down a rat hole?

I am not really as well versed in the entire saga as you guys are. Last i saw, the giant mega project was scrapped and they were looking at Vic Park... Is that the $150m comment?

As far as I see, if you do not mind the outsider looking in comment. Trying to build a giant project that would benefit the team and the stampeders as much as the first Calgary Next would, was a mistake that may turn off the city.

Asking for financing for that, and then saying "well, we have community aspects to this" would possibly cause the city to consider it a one sided deal.

Who knows.

Either way, now they want funding for something and want the city/province to pay for it.

The T-Mobile arena is technically the newest building in the NHL, that cost $375 million.

Not too far form your valuation, and how long would it cost to bring that back and recoup the expenses in building something that the team would own, and would bring in revenue?

Some info on the T-Mobile arena

[DJones]

I'm actually curious. Do you guys expect ownership to look at the Flames like a charity/service to the city?

This is a pretty easy cash flow projection. It's a bad enough investment as is.

[sureLoss]

Originally Posted by You Need a Thneed

Sorry, are you talking about CalgaryNext? If so, the city did respond.

The Flames haven't proposed anything else (at least that anyone in the public knows about).

Posted it earlier but it might get buried.

According to King the Flames offered to fund and finance the Victoria Park arena at a similar ratio that they were proposed for CalgaryNEXT.

Apparently didn't like or receive a response to that offer from the city.

[lvsteven]

Originally Posted by HotHotHeat

Just read the Seattle Key Arena proposal is...Wait for it... Privately financed.

SHHHH, don't tell any Canadian franchises.
The t-mobile arena in Las Vegas was also 100% privately financed.

It CAN happen.
It DOES happen.

[Roughneck]

Originally Posted by IamNotKenKing

No, I am not talking about CalgaryNEXT.
Yes, they have made a proposal.

Was it a similar split to what Edmonton did, a deal the city has repeatedly said they wouldn't do, since before CalgaryNEXT was proposed with a similar split to Edmonton's deal?

They've proposed nothing worth listening to if that's the case, at least to the current mayor and council.

[PeteMoss]

oh Flames ownership. God they are terrible at this.

[Mister Yamoto]

The biggest loser in all of this is the environment. What about the creosote??

[lvsteven]

Originally Posted by DJones

I'm actually curious. Do you guys expect ownership to look at the Flames like a charity/service to the city?

This is a pretty easy cash flow projection. It's a bad enough investment as is.

This is what I was wondering.
Asking for as much as CalgaryNEXT was, it seemed lopsided to the city.

If the team is worth almost half a billion dollars according to forbes, are they not able to finance this themselves?