Calgary taxpayers will foot half the bill for the Calgary Flames' new $425 million arena—and the owners of the team will provide the remainder
The city will own the arena and the land it’s built on; the Flames will cover all operating and maintenance costs and keep all revenue during the 35-year arena lease. The Flames will have to hand over 2% from every ticket sold to the city as a facility fee, capped at $3 million annually for the first five years and estimated to bring in $119 million over 35 years.
The Flames currently play in the antiquated Scotiabank Saddledome. During the 2017–2018 season, the team posted revenue of $132 million, 20th in the 31-team league. In December,Arena revenue is crucial in the NHL because it is not shared among the teams, and the league’s shared revenues—notably national television and sponsorship proceeds—are small compared with those of the NFL, the NBA and MLB.
During the 2017–2018 season, the Flames took in about $35 million from premium seating and non-NHL events at their current arena. In contrast, the Edmonton Oilers, who moved into in 2016, generated some $47 million. The value of the Flames could easily increase by 15% if the new arena is successful in getting sponsors.
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