How to calculate the $6 million per year pension for the Flames?
By Mike HeikaAFL.comIt’s a good thing Calgary has been on the verge of a major deal to land a new arena for the NHL Flames.
But the team has had to wait until this year to see if the NHL will grant it an extension to play in the new building, which is currently undergoing a $1.6 billion renovation and expansion.
The Flames and NHL will hold their first meeting this month to hammer out the details of the deal.
The plan calls for the team to play at the BMO Field in 2019 and 2020.
But that deal could be pushed back, possibly as early as 2021.
Calgary also wants a bigger pay-rise for players, the NHL’s lowest salary cap for three years.
That could push the team into a new, more expensive arena.
The salary cap is $70.7 million for next season and is expected to reach $80 million by 2021.
The NHL is hoping to build the $1 billion arena in time for the 2020 Olympics in Brazil, but the NHL has had some difficulties securing the necessary financing.
In March, the league awarded the team $6.7 billion for a new stadium and arena, but in March, a report by The Associated Press suggested the deal could cost $2.5 billion.
The league has struggled to attract and keep players.
The team has been a major disappointment in the standings this season and was eliminated from playoff contention last week.
The franchise also lost its most valuable asset this season: superstar forward Johnny Gaudreau.
The team has missed the playoffs in six of the past seven seasons.
A new arena could help the Flames return to the playoffs for the first time since 2008.
If the Flames could sign a player like Gaudette, who has a $15.9 million cap hit, it would help the team retain its assets.
But if the team had to sell Gaudettes jersey to pay for the arena, it could be expensive.
The Flames have no luxury tax to pay.
The cost of a new building could also be more expensive than the $2 billion salary cap.
The new arena will cost about $1 million per season, while the existing arena is set to cost $1,400 per season.
Calgarians could be stuck paying more than $1 for the new arena if the Flames did not want to buy the arena.