CALGARY, Alberta -- The Calgary Flames have a deal for a new downtown arena, a 35-year agreement that keeps the NHL club in the city for that time.
The team, the city and the Calgary Stampede rodeo signed an agreement Thursday to replace the 36-year-old Scotiabank Saddledome.
The new 19,000-seat arena is to cost more than $417 million and be located just north of the Saddledome. Construction is expected to begin in 2021, and the old arena will be demolished between 2024 and 2025.
The project is part of a downtown revitalization. The new building will become the home of the Flames and part of a planned entertainment district bordering the Stampede grounds.
The Calgary Sports and Entertainment Corporation, which owns the Flames, and the city will split the cost. The Stampede is a not-for-profit community group.