Edmonton Oilers: $2.5M for a new arena?
Edmonton Oilers owner Daryl Katz and team owner Daryl Reaugh are negotiating a multi-year lease with a $2 million investment trust for a privately financed $2 billion new arena.article Edmonton Oilers general manager Craig MacTavish said the agreement is in the final stages of development.
The $2-million investment trust would fund the development and construction of the arena.
The Oilers are hoping to have the arena finished by 2023 and open in 2023.
MacTavishes team has been the subject of some controversy in recent months.
He was suspended by the NHL in December for a week over an alleged racist tweet.
MacDermid is also looking for a partner to help fund the project.
The Edmonton Oilers have had a number of issues recently.
The team missed the playoffs last season and was eliminated in the first round of the playoffs.
The franchise was also hit with a federal lawsuit for allegedly stealing a $50 million loan.