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Calgary Flames set with arena plans to replace Saddledome

Colorado Avalanche v Calgary Flames

CALGARY, AB - APRIL 19: Sean Monahan #23, Johnny Gaudreau #13 and teammates of the Calgary Flames celebrate a goal against the Colorado Avalanche in Game Five of the Western Conference First Round during the 2019 NHL Stanley Cup Playoffs on April 19, 2019 at the Scotiabank Saddledome in Calgary, Alberta, Canada. (Photo by Gerry Thomas/NHLI via Getty Images)

NHLI via Getty Images

CALGARY, Alberta -- The Calgary Flames have a tentative agreement for a new arena to replace the Saddledome.

The city, NHL team and the Calgary Stampede have agreed in principle to terms. The Stampede, a rodeo exhibition, owns the land.

The deal was to be presented to the City Council on Monday and then put to a vote. Calgary citizens would then have a week to voice their opinion before a council vote next week to ratify the deal.

The Saddledome is almost 36 years old. The cost of the event center is $550 million to $600 million. It is to have a seating capacity of about 20,000 for sports and would be the heart of a larger revitalized commercial and residential district.