Quote:
Originally Posted by Coldrsx
I suspect that you might see more coming on this item and questions around why the City runs it versus an arms length or private group...
More to come.
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Do you mean something like this:
Edmonton and Oilers look to score big investment on par with Calgary's arena deal
Keith Gerein edmontonjournal.com
May 27, 2024
Multiple sources have confirmed to Postmedia that the Oilers Entertainment Group has been working with city officials and the UCP government on a plan to have the province make a major sports and cultural investment in Edmonton — including, potentially, upgrades Commonwealth Stadium...
However, it turns out there is some substance to this. Nothing has been finalized and everything could still fall apart, but the sources tell me all three parties have serious interest in getting something done in the near future.
My understanding is that city leaders are now working with OEG to complete a final package of proposals to take to the province.
As for the other parts of the potential deal, there are reportedly still some things to work out, including what to do with Commonwealth Stadium.
The city has previously asked the province for $180 million to modernize Commonwealth — a now 46-year-old facility that did not show well when Edmonton tried to land hosting duties for the 2026 FIFA World Cup.
However, there is a debate about whether the city is actually best served in the long run by sinking money into Commonwealth, or if it might be better to build a new, smaller stadium that is more soccer and/or concert friendly. That’s undoubtedly the more expensive option, and it’s unclear what the province might be willing to contribute and whether OEG would be involved.