Concept art for the Calgary Flames' new arena. (Supplied by Rossetti / Calgary Flames)

By David Opinko

Deal signed to build new taxpayer-funded arena for Calgary Flames

Dec 5, 2019 | 10:22 AM

CALGARY, AB – The Calgary Flames will officially have a new home.

City Councillor Jeff Davison announced on Twitter Thursday morning that definitive agreements have been signed between the City of Calgary, the Calgary Flames, and the Calgary Stampede.

Following the vote this summer to move ahead with the arena, it was reported by the NHL that it would cost an estimated $550-million and seat up to 19,000 people.

The cost of this facility would be shared equally between the municipality and the team, although the City of Calgary would get 100% ownership.

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Construction would reportedly start in 2021 and take three years to complete.

The arena is set to be located on 12th Ave and Fourth Street S.E.

The Saddledome has been home to the Flames since 1983 and is currently the second-oldest arena in the NHL after Madison Square Garden.