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Edmonton arena project sputtering

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08:24 AM ET 09.30 | The idea of an ambitious arena push appears to be fading in Edmonton. The Katz Group must make a "very significant investment" by Oct. 31 to keep the downtown arena project alive, company officials say. The company has been negotiating with the city since May for a final 17-point agreement to build the $450-million project, but vice-president John Karvellas says they need a firm deal by Halloween. That's when their option to buy land for the site expires, and they've exhausted their right to extend the closing date, he said in a news release. As well, they're already well past the point where the new home for the Oilers would be ready for the 2014 hockey season as they originally wanted, he said.

Edmonton Journal

Taylor Hall, Getty Images Taylor Hall, Getty Images
Comment #1 has been removed
September 30, 2011  09:22 AM ET

I hear there's a nice arena in Glendale.

Comment #3 has been removed
September 30, 2011  09:56 AM ET
QUOTE(#3):

Atlanta too.

Not really, its too close to the CNN Headquarters

September 30, 2011  10:04 AM ET

Dang......get this done Katz!

September 30, 2011  11:05 AM ET

What's that in the skies over Edmonton? Looks like vultures from Quebec and Kansas City.

September 30, 2011  12:13 PM ET
QUOTE(#1):

Only the teams win when new arenas an stadiums are built. The city and the taxpayers are usually subsidizing the construction in one way or another.

Well, if taxpayers dig having NHL hockey in their city, they better shut up and put up! I can't imagine Edmontonians wanting to go through another Peter Puck episode. If you want NHL hockey in your town? Geet 'er done!

September 30, 2011  02:59 PM ET

The issue isnt whether taxpayers want a new arena. The issue is that Katz wants the taxpayers to build it and then he get all the revenues. That is what people have an issue with.

If Katz wants the revenues then he should be paying the majority of the bill

September 30, 2011  03:16 PM ET

I dont think the NHL is going to leave Edmonton. They are one of the brightest young teams in the league, have one of the richest Canadian owners, and a die-hard fan base. A new arena is a necessity but I think when push comes to shove Katz and the city will put up.

September 30, 2011  03:37 PM ET
QUOTE(#9):

I dont think the NHL is going to leave Edmonton. They are one of the brightest young teams in the league, have one of the richest Canadian owners, and a die-hard fan base. A new arena is a necessity but I think when push comes to shove Katz and the city will put up.

I hope you're right Ness. Geez and the local economy can easily handle this decision. Lots of money flows through this town and no reason it shouldn't happen.

September 30, 2011  04:00 PM ET
QUOTE(#9):

I dont think the NHL is going to leave Edmonton. They are one of the brightest young teams in the league, have one of the richest Canadian owners, and a die-hard fan base. A new arena is a necessity but I think when push comes to shove Katz and the city will put up.

There was a similar feeling in Cleveland a few years ago right before the Model took the Browns to Baltimore.

September 30, 2011  04:11 PM ET
QUOTE(#6):

What's that in the skies over Edmonton? Looks like vultures from Quebec and Kansas City.

Nope...They're too busy circling overhead in Florida, Dallas, Phoenix, Long Island...
Did I miss any others?
NJ perhaps...

September 30, 2011  05:08 PM ET
QUOTE(#12):

Nope...They're too busy circling overhead in Florida, Dallas, Phoenix, Long Island...Did I miss any others? NJ perhaps...

Actually they have stopped circling Dallas as they finally have new ownership Phoenix has the deathdwarf shooing them away I'm putting my money on the Miami franchise going north next

 
October 2, 2011  10:40 AM ET

Buttgoblin wants New Orleans next!!

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