By The Canadian Press

NHL’s Flames torch pursuit of new arena; state ‘no basis’ for deal with city

Sep 21, 2017 | 8:01 AM

CALGARY, ALTA- The NHL’s Calgary Flames say that after over two years of negotiations with the city, the organization has concluded there’s no point in pursuing a new arena to replace the Saddledome.

In a statement released Thursday, Calgary Sports and Entertainment Corporation, owner of the Flames, says it sees no basis for an agreement with the City of Calgary on a new home in Victoria Park, just north of the 34-year-old Saddledome.

The club has revealed its final proposal for the arena, saying it was prepared to contribute $275 million toward construction of the city-owned complex.

The release says the team will strive to operate in the Saddledome for as long as it believes it’s feasible.

The city had proposed paying a one-third share of $185 million, with CSEC paying another third and the remaining third paid for via a surcharge on tickets sold to events in the new building.

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Flames president Ken King contended the proposal amounted to the team paying the entire cost, or more, because the team considers a ticket surcharge revenue that belongs to them and because they’d pay property tax.