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New Edmonton arena plan on the verge of approval (Update: Approved)

Jan 23, 2013, 3:48 PM EDT

Edmonton arena

Edmonton city councilors are poised to approve a new downtown arena financing plan that will see the Oilers move into a new $480 million home by 2016.

From the Globe and Mail:

The city would provide a total of $219-million in funding, including $140-million for the arena itself. The Katz Group would provide $143-million, including $115-million for the arena itself. $125-million would be provided by a ticket surcharge, all of it directed to the arena project.

It should be noted the plan still calls for the province to chip in $100 million for the arena, which may be easier planned than actually accomplished.

If you’re into this sort of thing, the Edmonton Journal has been running a live blog of today’s meeting.

Update: Deal approved.

  1. steelers88 - Jan 23, 2013 at 4:12 PM

    The city of Edmonton and the Oilers deserve a new arena. So excited for guys!

  2. phipfwe76 - Jan 23, 2013 at 5:54 PM

    Good for them! Hate to see any of the Canadian teams deal with any issues like that.

  3. joelwrobinson - Jan 23, 2013 at 7:05 PM

    They also gave up six goals in the first period last night.

    • gmichetti - Jan 23, 2013 at 9:47 PM

      JoelWrobinson – you idiot. What does a new arena have to do with the fact they gave up 6 goals in the first period?

      • elemeno89 - Jan 23, 2013 at 11:56 PM

        You mean you don’t know? We must let you out on the email chain… Here let me forward it to you, just one sec…

  4. lostpuppysyndrome - Jan 24, 2013 at 3:16 PM

    $480mil? Yowza. The Xcel was built for $180mil and is still considered one of the nicest barns in the league. New Oilslick arena should be nice.

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