Since 1974, the Edmonton Oilers have played at the arena currently known as Rexall Place. The arena is, understandably, outdated. Edmonton Mayor Stephen Mandel has been pushing for a new downtown arena for quite some time, and it looks like he's finally getting his wish. The City Council voted yes to the downtown arena on Wednesday, and the Oilers could be moving out of Rexall Place and into their new arena as soon as 2015. The new arena will cost an estimated $450 million.
Edmonton Oilers Arena: Building Could Open In 2015 After $450 Million Deal Passes
The Edmonton Oilers could have a brand new downtown arena soon. The Edmonton City Council approved the new arena project, and now need to find a source or sources for a portion of the funding.
For the Oilers, it’s obviously a great deal. They’ll get to play in a fancy new arena at a presumably reasonable cost while charging more for tickets and playing in a better location in the city. Mandel and others in local government in Edmonton believe that other businesses will sprout up quickly in the area around the arena.
NHL Commissioner Gary Bettman was obviously pleased with the developments, and expressed his happiness about the deal.
“I am thrilled for the City of Edmonton and I want to congratulate and thank Mayor Mandel and Daryl Katz for their hard work and commitment...The future of the Oilers couldn’t be brighter.”
While this vote is a huge step forward for the arena and the Oilers, the city still needs to find another $100 million in funding before any ground can be broken on the project. The Oilers should have a new home in 2015, but there is still one more hurdle to clear to make it happen.
For more on the Oilers and their potential arena deal, visit Edmonton Oilers blog The Copper And Blue, as well as SB Nation NHL.
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