Oilers ask that arena negotiations be restarted

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As per its request, Oilers ownership is speaking in front of Edmonton city councilors today in hopes that negotiations for a new $450 million downtown arena can be restarted.

In October, the city called off talks in the wake of the Katz Group’s request for an additional $6 million annual operating subsidy.

Today, after stating the Oilers were “stunned” at the city’s decision to cease talks, Katz Group executive John Karvellas said the $6 million request has been withdrawn. Instead, he proposed that any extra tax revenue (beyond expectations) collected from the arena district be given to the club.

There also remains the matter of the $100 million shortfall that the city and the Oilers are hoping the province will provide in some form or another.

For all the scintillating details, the Edmonton Journal is covering the meeting here. It’s a bit like a City of Glendale meeting, except it’s colder outside.