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Edmonton city council approves arena deal

May 15, 2013, 6:05 PM EDT

Oilers arena

Edmonton city council has voted 10-3 in favor of a new funding arrangement for the construction of a $480 million downtown arena for the Oilers.

The details of the deal can be found here, if you’re curious how much each party is chipping in.

Per CBC Edmonton reporter Marion Warnica, shovels could be in the ground as soon as early next year.

The Oilers could then be playing in their new rink by 2016.

Assuming no more hiccups…

  1. esracerx46 - May 15, 2013 at 6:13 PM

    “A matching $15 million will be paid by the city through an increase to the community revitalization levy”

    Wow, thats some fancy words for a tax.

    • dumbassgreg - May 15, 2013 at 6:24 PM

      in alberta they never call a tax a tax . allows people to have illusions they pay lower taxes

      • stakex - May 15, 2013 at 7:07 PM

        Its just like all those “fees” Romney added in Massachusetts… and then he said he never raised taxes. Whats sad is that so many people, even those paying these things, actually buy that they are not paying higher taxes.

  2. dumbassgreg - May 15, 2013 at 6:22 PM

    katz like pockington has played people of edmonton like fiddle. Katz pays himself salary of 250 million a year. 15 million is tip money. he will probably write it off taxes. poor real people of edmonton can;t though when their taxes good up to pay for this. sorry it is alberta they never call it taxes but community revitalization levy lol

  3. esracerx46 - May 15, 2013 at 8:13 PM

    Or like when Lisa Simpson asked for that temporary refund adjustment. Theirs a Simpsons and Seinfeld episode for everything.

  4. pimares - May 15, 2013 at 11:11 PM

    Oh the pain the horror. This is hilarious, so many Canadians have scolded us here in Arizona for proping up the Coyotes with the arena deal. But at least when our arena was built its cost 180 million with a PUBLIC VOTED bond. Your city council and provincial governemnt have just dropped up to 500 million. Total cost with infrustructure upgrades is about 674.5 million per the Edmonton Journal. All with money that is expected to come in WHEN they arena is built. Spending money thats not even there hahaha. Plus all the naming rights/concessions/parking for all events go to Katz. He only has to pay 6 million rent minus 2 million in capital costs the city is expected to contribute yearly. You guys got really screwed by a billionaire. No one in Edmonton has ANY RIGHT to criticize us here in Arizona anymore.

    • jernster21 - May 16, 2013 at 8:20 AM

      The difference? Edmonton actually makes money. Because, you know, they actually fill their arena.

  5. pimares - May 16, 2013 at 11:54 AM

    Not according to Katz (from the same article), he says he’s been losing millions yearly. Yet he won’t allow the city to see his financials. I wouldn’t either if it proves your a liar and just milking the city/province for cash. He gets all the monetary value for a small investment. Face it Edmonton got screwed worst than Glendale. Doesn’t matter if it sells out every game for the next 35 years Katz gets nearly 85% of the profit from the arena. Like I said you guys got screwed

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