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SBD/December 13, 2012/Facilities
City Of Edmonton Re-Starts Negotiations With Katz Group Over Arena Deal
Published December 13, 2012
FINDING THE FRAMEWORK: In Edmonton, John MacKinnon writes the two sides "will keep on talking, using the framework of agreement worked out in New York City in October 2011 as the basis for discussion." Councillors also "agreed with the Katz Group suggestion to include an independent mediator and a financial analyst to facilitate agreement, or so they hope." However, once the "talking is done, support for a reserve fund may well hinge on whether both sides can agree on the numbers, on what it costs to operate the proposed new facility versus how healthy the revenue streams are." Unlike the Oilers' current deal with Rexall Place, a move to a larger, more modern downtown arena would give the club "access to the revenue from all events staged there." However, the Oilers "calculate things much differently" so there is a "major disconnect on the financial projections in the new arena" (EDMONTON JOURNAL, 12/13).