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Oilers ask that arena negotiations be restarted

Dec 12, 2012, 3:23 PM EDT

Oilers arena

As per its request, Oilers ownership is speaking in front of Edmonton city councilors today in hopes that negotiations for a new $450 million downtown arena can be restarted.

In October, the city called off talks in the wake of the Katz Group’s request for an additional $6 million annual operating subsidy.

Today, after stating the Oilers were “stunned” at the city’s decision to cease talks, Katz Group executive John Karvellas said the $6 million request has been withdrawn. Instead, he proposed that any extra tax revenue (beyond expectations) collected from the arena district be given to the club.

There also remains the matter of the $100 million shortfall that the city and the Oilers are hoping the province will provide in some form or another.

For all the scintillating details, the Edmonton Journal is covering the meeting here. It’s a bit like a City of Glendale meeting, except it’s colder outside.

  1. smssr68 - Dec 12, 2012 at 3:39 PM

    Just another owner assuming all the risks of owning an NHL team, right?

  2. atwatercrushesokoye - Dec 12, 2012 at 4:57 PM

    So after being given a timeout by the City of Edmonton the Oilers are finally over their tantrum and ready to act like big boys?

    The deal is and always was going to get done, Katz just needed a reality check after first flirting with Seattle and then demanding more cash with no explanation on why he needed it, now that they’ve gotten past all that I would expect the deal to be done early in the new year..assuming the COE doesn’t make him sweat for a few more weeks.

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