A new $1.2 billion sports arena will be built in Calgary, Alberta, replacing the city’s famed Saddledome.
The deal to replace the aging Saddledome also includes a new event centre and improvements to the city’s downtown core.
The City of Calgary, Alberta government, Calgary Sports and Entertainment Corp. and the Calgary Stampede are each contributing to the $1.2 billion project, with $800 million of that money going towards a new sports arena.
The Alberta government is not contributing to the cost of the new arena but says it will spend $300 million on public transit and road improvements in Calgary’s downtown area.
The new arena is expected to house the Calgary Flames National Hockey League (NHL) team.
The Saddledome was built in 1983 and has long been the home of the Calgary Flames. The well-known arena also hosted ice hockey and figure skating competitions during the 1988 Winter Olympics that took place in Calgary.
