Reality Cheque

Here's are some facts about the proposed arena project for Edmonton:

Daryl Katz owns the Edmonton Oilers Franchise.

Daryl Katz has said that the Oilers will not play in Rexall place after the club's lease expires in 2014, renovated or not.

Daryl Katz has not said what will happen after that but if he sells or moves the franchise Edmonton will not likely get another NHL franchise in the near future.

Without an anchor tenant Rexall Place will become unsustainable and will close.

Once Rexall is gone there is even less hope of obtaining another NHL franchise or of building a new arena.

Daryl Katz has offered to help develop a new arena district in downtown Edmonton, including a 'state-of-the-art' arena. He has pledged $200M (although the sources are not clear, if it is his money, an area tax, a ticket tax, or a seat license) to do so.

Not having an indoor venue over ~6,000 people (Shaw Conference Centre) will severely limit the types and scale of events which can be hosted in Edmonton.

The idea of building a new arena is a 'now or never' proposition and Edmonton can get a portion of the funds from Mr. Katz or nothing at all, another 'now or never' proposition.