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Intermission over? Oilers want downtown Edmonton arena talks revived
EDMONTON – Officials representing Edmonton Oilers owner Daryl Katz (KATES) say they were shocked when the city broke off talks on a new downtown arena and they would like negotiations restarted.
The Katz Group is appearing before city council to discuss the stalled $450-million project.
Councillors voted in October to stop talking after the Katz Group refused to publicly explain its request for a $6-million annual subsidy that was not part of the original agreement.
Senior executive John Karvellas says the Katz Group has dropped that demand.
He suggests instead any excess city tax revenue from the arena — beyond what has been forecast — go to the Oilers.
Karvellas also says it’s up to the city to figure out where the $100 million still needed for construction will come from.
The city has suggested that money will come from the province, but the province has so far said it will not fund the arena.
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