Plans for new downtown areana approved
Posted: Fri May 20, 2011 1:48 am
http://hockey.realgm.com/src_wiretap_archives/9643/20110519/oilers_edmonton_reach_agreement_on_new_arena_finance_plan/
This is all pending the province forking over the last 100 million. But this is much needed for both the team and the city. Glad this is finally done.
ESPN.com - Edmonton officials and the owners of the Oilers have reached a framework agreement to finance a $450M downtown arena for the team.
The deal would see the city provide $125M and the Katz Group, which owns the Oilers, pay $100M. Another $125M would come from a user-paid facility fee.
Edmonton mayor Stephen Mandel says they will now approach the provincial and federal governments for the remaining $100M.
This is all pending the province forking over the last 100 million. But this is much needed for both the team and the city. Glad this is finally done.