Quote:
Originally Posted by Coldrsx
too large of a stadium
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Edmonton and Oilers look to score big investment on par with Calgary's arena deal (Edited for relevant points)
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, demolition of the old Coliseum and various improvements to the Ice District.
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.
Apparently there is even hope an announcement can be made during the Oilers’ current playoff run to take advantage of fan revelry — provided certain sticking points can be worked through.
That obviously meant the city had to be a central part of the negotiations and, to be fair, municipal officials have been pestering Smith’s office for an investment similar to what was given to Calgary. 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.
Finding a government willing to spend major money on sports and cultural projects is often a once-in-a-generation opportunity. These are things cities generally can’t afford to tackle on their own, and yet they offer great potential to attract investment, events and tourism that are a boon to the economy.
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