Flames make 35-year commitment to stay in Calgary with new arena deal

The Calgary Flames' new arena project is on - and it comes with a promise that the club will stay put for more than three decades.

Alberta premier Danielle Smith, Calgary mayor Jyoti Gondek, and representatives from the Flames and their parent company, the Calgary Sports and Entertainment Corporation, made it official Thursday.

Gondek said the CSEC, the city of Calgary, the province of Alberta, and the Calgary Stampede have all signed final agreements on the event center plans, according to The Athletic's Julian McKenzie.

The Flames committed to remaining in Calgary for 35 years, according to TSN's Salim Nadim Valji.

The project, which was originally agreed upon in principle in April, will involve the construction of an entire entertainment district that includes the Flames' arena. It will cost $1.2 billion, with the provincial government spending $330 million. The city's contribution wasn't announced Thursday, but in April it was pegged at $537.3 million, with the CSEC paying the remaining $356 million.

No provincial tax dollars will be used, said Devin Dreeshen, the minister of transportation and economic corridors, according to McKenzie.

Construction is likely to begin next year, and Dreeshen hopes it'll be completed by 2026 or 2027, at which point the Saddledome will be demolished. The new building is expected to seat between 18,000 and 18,400 fans, which would be smaller than the current arena's capacity of 19,289.

The Flames had a previous deal in place for a new arena in 2019, but it fell apart two years later after the cost increased by over $50 million.

The Saddledome is the second-oldest current arena in the NHL, having opened in 1983. Among active facilities in the league, only Madison Square Garden in New York City has been around longer.