• Loading stock data...
Thursday, February 20, 2025

Calgary Flames Back Out of $634M Arena Deal

  • The Calgary Flames are pulling out of an arena deal with the city.
  • The team and city had originally agreed to split $550 million in costs, but estimated expenses had risen.
Calgary-Flames
Sergei Belski-USA TODAY Sports/Design: Alex Brooks

New arenas and stadiums are sprouting up across North America, but one team is reversing course.

The Calgary Flames are backing out of an arena deal, citing increased costs. The team and the city of Calgary had agreed to split the cost of a $550 million facility in 2019, but the team says that the estimated cost has risen to $634 million.

John Bean, president of Calgary Sports and Entertainment, said Wednesday that there is no viable way for the deal to go through. The team said that they would have been on the hook for $346.5 million, plus any additional costs.

  • Over the summer, the city and team each agreed to add $12.5 million to the project budget to account for cost overruns.
  • The city chipped in an additional $10 million for event management, according to Calgary mayor Jyoti Gondek. The team was to pick up additional expenses.
  • An additional $16.1 million in climate mitigation and street adjustments were identified, for which the city offered to pay $6.4 million. The team balked at picking up the final $9.7 million.

A City in Shock

“On a project worth over $650 million, to have one party walk away for 1.5% of the value of the deal is staggering,” Gondek wrote.

It’s not immediately clear what this means for the team’s future. The Flames have played in their current home, the Saddledome, for 38 years.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

4 Nations Finale Could Draw Super Bowl–Level TV Ratings in Canada

The hockey matchup ties into broader issues of national pride and sovereignty.
Feb 17, 2025; Boston, MA, USA; [Imagn Images direct customers only] Team Canada forward Connor McDavid (97) skates with the puck during the second period in a 4 Nations Face-Off ice hockey game against Team Finland at TD Garden

NHL Showcasing Its Young Stars in 4 Nations Face-Off

Their faster, flashier hockey will be the key to the NHL’s future.

ESPN Is Treating 4 Nations Finale Like a Stanley Cup Final

The in-season 4 Nations tournament made waves over the weekend.

Super Bowl of Hockey? U.S.-Canada Final Hits Record Ticket Prices

Demand for the game has roughly quadrupled over the last 10 days.

Featured Today

Feb 15, 2025; Montreal, Quebec, CAN; [Imagn Images direct customers only] Team United States forward Matthew Tkachuk (19) and Team Canada forward brandon Hagel (38) fight in the first period during a 4 Nations Face-Off ice hockey game at the Bell Centre.

Inside the Push for the NHL’s Next Era of International Competition

Players have been clamoring, and the league is all in.
Aug 11, 2024; Paris, France; Medals are carried out on Louis Vuitton trays after the women's volleyball gold medal match during the Paris 2024 Olympic Summer Games at South Paris Arena
February 16, 2025

LVMH’s New Push: World’s Most Powerful Luxury Group Is Coming for Sports

LVMH is making long-term deals—and they’re not done.
Feb 18, 2024; Indianapolis, Indiana, USA; Eastern Conference guard Damian Lillard (0) of the Milwaukee Bucks reacts after a play during the second half of the 73rd NBA All Star game at Gainbridge Fieldhouse.
February 15, 2025

The NBA’s Latest Attempt To Solve the All-Star Game Conundrum

A new mini-tournament on a lame-duck network may not solve the problem.
Jan 9, 2025; Pittsburgh, Pennsylvania, USA; Edmonton Oilers center Connor McDavid (97) checks Pittsburgh Penguins center Sidney Crosby (87) during the third period at PPG Paints Arena
February 11, 2025

‘Important’ 4 Nations Face-Off Can Be NHL’s All-Star Antidote

“The stars have been lobbying the league for an event like this.”
Nov 24, 2024; Houston, Texas, USA; General view inside NRG Stadium during the national anthem before the game between the Houston Texans and the Tennessee Titans.

Texans Join NFL’s Stadium Push: Weighing Renovation vs. New Build

The NFL team is weighing options regarding the 23-year-old NRG Stadium.
February 12, 2025

Broncos Weighing ‘All Things’ for Stadium: Could a Move Be Next?

Broncos president Damani Leech told FOS the team doesn’t have a lot of time.
Suns
February 18, 2025

Suns Arena Will Be Unbranded as Team Looks for Naming Deal

Some Footprint Center signage has already been removed.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
Jan 19, 2020; Santa Clara, California, USA; General view of San Francisco 49ers logo in the NFC Championship Game at Levi's Stadium.
February 11, 2025

Super Bowl Headed West As NFL Ponders International Future

Levi’s Stadium in Santa Clara, Calif., will host next year’s Super Bowl.
Nov 3, 2024; Philadelphia, Pennsylvania, USA; General view of the inside bowl of Lincoln Financial Field before a game between the Philadelphia Eagles and the Jacksonville Jaguars.
February 10, 2025

Will Eagles’ Super Bowl Win Spark New Stadium Talks in South Philly?

The Super Bowl champions are considering various facility options.
Jan 31, 2013, New Orleans, LA, USA; General view of the downtown New Orleans skyline and Benson Tower and Mercedes-Benz Superdome in advance of Super Bowl XLVII between the Baltimore Ravens and the San Francisco 49ers.
February 6, 2025

The Battle for the Super Bowl: Can New Orleans Still Host the..

New Orleans’s Super Bowl future is up against tough competition from newer stadiums.
February 5, 2025

Chiefs’ Ambitious Facility Plans Hinge on Stadium Future

Chiefs consider $425 million training facility as stadium future and brand strategy evolve.