The CSEC announced today the the new arena deal is officially dead due to neither party doing anything to change the project before the start of the New Year. This leaves the Flames and the city of Calgary with no prospects as of now for a new arena for Calgary's sports teams or entertainment.
"The Project Framework Agreement, which governed the funding, design and construction of the Event Centre, required both Contributing Parties, being the City of Calgary and Calgary Sports and Entertainment Corporation, to waive Construction Conditions on or before December 31, 2021. Neither Contributing Party waived the Conditions by December 31, 2021 which resulted in the termination of the Project Framework Agreement and all associated agreements."
For the rest of the release, click the link below.