May 20, 2010, 8:35 PM EDT
On the ice, the Edmonton Oilers are looking to bounce back from what was by far the worst season of any NHL team in 09-10 by building up their team with prospects. Much like the once-floundering Pittsburgh Penguins’ struggles with the relatively ancient Mellon Arena, perhaps that influx of potential stars will help Oilers owner Daryl Katz get the club’s long-awaited arena deal done.
TSN reports that the $400 million deal (with reportedly $1.5 billion in overall development money involved in the proposals) may see its make-or-break day as soon as June 28. First, let’s consider the stakes at hand.
Get it right and the proposed $400-million rink becomes the transformative force for a cultural and economic renaissance.
Get it wrong and generations of taxpayers pay the price and the core, just springing back to life with condos and storefront shops, is killed in the cradle.
As the story says, time is a big factor but money is the most important. The Edmonton area is fledgling (just ask stars who pooh-poohed a trade to the region like Dany Heatley) and could certainly use a shot in the arm. That being said, many critics point out that other Canadian teams who built new arenas did so with little or no public funding.
The Oilers want spades in the ground in 18 months so that the new rink is ready to go when the lease expires in 2014 on their current home, the aging Rexall Place.
There’s obviously a lot of money – and, in a worst case scenario, the fate of a franchise that won a slew of Cups in the Wayne Gretzky Era – on the line but a lot can change in a month or more. We’ll keep you updated as this crucial situation makes its way toward a conclusion.
- Gettin’ paid: Gardiner inks five-year, $20.25M extension with Leafs 14
- Report: Trottier to join Sabres’ coaching staff 13
- Blues sign former eighth overall pick Mueller 28
- Trotz plans to let Johansson, Kuznetsov, and Burakovsky compete for time at center 43
- Eric Staal has surgery to repair ‘core muscle injury’ 6
- After not seeing ‘eye-to-eye’ with Carlyle, Reimer will compete for No. 1 gig 16
- Two down, one to go: Wings ink Tatar to three-year, $8.25M deal 12
- Cashing in: Rangers sign Brassard to five-year, $25 million deal 63
- Subban not eager to discuss contract talks 34
- Leafs re-sign Reimer — two years, $4.6 million 22
- Cashing in: Rangers sign Brassard to five-year, $25 million deal (63)
- Avs and O’Reilly agree on two-year deal, but questions remain (45)
- Trotz plans to let Johansson, Kuznetsov, and Burakovsky compete for time at center (43)
- New Caps regime plans to keep Ovechkin at RW (for now) (42)
- Rangers and Kreider avoid arbitration, agree on two-year deal (39)