Flames: We were ready to pay $275M for new arena

The Calgary Flames insisted they were done negotiating with the city about a new arena, but that isn't stopping them from trying to sway public support.

A proposal released by the club Thursday morning claims it was prepared to contribute $275 million toward a new facility in Victoria Park, with the other $225 million coming from a "Community Revitalization Levy" generated from the development of the area around the facility.

The Flames once again stressed the city's proposal would leave them footing the entire bill, as opposed to the 33 percent figure Calgary lawmakers presented it as last week.

Related: Flames CEO claims city's arena pitch would've had team paying '120 percent'

Here's what the Flames released Thursday about their reluctance to continue negotiating with the city for a new arena:

In a "small market" city, even one with an NHL team, a privately funded arena is not economically viable. The City's proposal is just not workable (or even for that matter, "fair", based on other arena deals in comparable cities). As a result, after over two years of discussions, we see absolutely no basis upon which a new arena agreement can be achieved with the City, and we have concluded that there is no point to continue the pursuit of a new arena in Calgary. Many, including us, believe Calgary is a terrific place for NHL hockey and we certainly have great fans. As such, we will strive to operate, as we have for the past 34 years, in the Saddledome for as long as we believe it is feasible.

The Flames first stated their intent to withdraw from arena talks on Sept. 12.