With more than $55M still missing, new Edmonton arena may be doomed

National Post | News


With the province sticking to its pledge not to provide more money for a long-proposed downtown arena, critics and boosters alike are starting to ponder the project’s imminent demise — and, ultimately, the future of NHL hockey in the Alberta capital.

Even after squeezing an additional $45-million from infrastructure funding last month, the deal — largely financed by the city, although almost all of the direct economic benefit is to go to billionaire Oilers’ owner Daryl Katz— is still $55-million short. The city also has yet to secure $14-million in provincial or federal funding for a community rink.

And with Premier Alison Redford facing public backlash amid major cuts to schools and other ministries, in addition to the fact that Mr. Katz himself was only recently cleared of wrongdoing for collecting a bulk donation of $430,000 for the Progressive Conservative campaign during the election last year, the prospect of…

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