City of Calgary reveals arena-funding proposal that Flames rejected

The City of Calgary revealed its plans for building a new arena to house the Flames following a declaration by team ownership earlier this week that a new arena would no longer be pursued following a series of failed negotiations.

Here's the city's proposal in the form of a handy pie chart:

The plan, rejected by the team, was made public following a city council vote spurred by mayor Naheed Nenshi that passed 8-4.

In the city's proposal, the team would be on the hook for 33 percent of building costs while retaining full control of the arena and all revenue streams. The city would also chip in 33 percent while bringing in property tax paid by the club with a guarantee the Flames would remain in Calgary for at least 35 years. The remaining costs would be covered by ticket surcharges paid by fans.

The club's own proposal has not been disclosed, but a Globe and Mail report said it involved the city paying the majority of the funds and the Flames also demanding the team pay neither rent nor property tax.

Understandably, the city turned down the pitch, leaving the two sides in an apparent stalemate, for the time being at least.