Flames to receive NHL revenue sharing funds, says King

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Last week, the Flames stated they would no longer pursue a new arena in Calgary after two years of discussions with the city.

On Monday, Flames president and CEO Ken King said the organization is now receiving funds as part of the National Hockey League’s revenue sharing.

From CBC:

He said the team used to be among the top 10 revenue-earning teams in the NHL who, under the league’s revenue-sharing agreement, contribute funds to the lower-earning teams.

“We have now crossed the line. We are now receivers. We’ll get a cheque this year. Isn’t that ridiculous, in this beautiful market?” he said.

“And I can say, sadly, that we have crossed one of the remedies off the list, and that is the new facility. I honestly do not know where that part of the story is going to end.”

He also stated that the organization’s decision to publicly state it will no longer pursue a new arena in Calgary was not political posturing.

The Flames currently play out of the Saddledome, which is 34 years old and has drawn criticism from the team, as well as NHL commissioner Gary Bettman.

Last week, the Flames released a report online and in local newspaper advertisements, saying they were prepared to contribute $275 million in funding toward a new arena. Calgary Mayor Naheed Nenshi responded, saying there were some “errors of omission” in what the Flames released.