Canadian NHL team receives new $1.2B arena

After a few years of back-and-forth discussions, it was finally decided that the Flames would get their wish. According to Calgary Mayor Jyoti Gondek, the finalization of the project was made official to the city, and they would break ground starting in 2024.

But a $1.2 billion expansion will be the successor to the aging Scotiabank Saddledome, which was constructed in 1983 for the Winter Olympics held in 1988. It's widely expected that the new arena will be ready for the 2026-2027 season.

Meanwhile, without the NHL, it was reported that NHL Commissioner Gary Bettman was hinting at the idea of further expansion to the league shortly.

After the conclusion of NHL meetings in New York City two days ago, the commissioner expressed a possible desire for further expansion as discussions were being held between other cities, such as Houston, Atlanta, Quebec City, and Salt Lake City.

This was further emphasized when NHL insider Pierre LeBrun echoed the same sentiments, saying that the commissioner stated it's a matter of when, not if, a team will be brought in as the 33rd and 34th franchise.

The discussion of expansion has been fueled by the recent successes of two new teams, the Vegas Golden Knights and the Seattle Kraken, who had fantastic starts to their new franchises.

During the summer, the Ottawa Senators were constantly in the news as a bidding war appeared to be forming for the franchise, which was settled at $950 million. These expansion fees of $650 million, plus the purchase price of $950 million, certainly give the NHL a reason to consider expansion again, as these fees will be distributed to the other owners soon afterward.