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December 13, 2012 | 10:11am ET
New Edmonton arena project back on track
TheFourthPeriod.com

It appears talks between the city of Edmonton and Oilers regarding a new downtown arena are back on again, according to the Edmonton Sun.

City councillors voted to resume talks with Oilers billionaire owner Daryl Katz after Katz officials promised to drop demands for an extra $210 million in direct financial assistance from taxpayers.

John Karvellas, a vice-president and lead negotiator for the Katz Group, reportedly suggested that they renew negotiations after talks ended on Oct. 17 when Katz refused to budge on his demands for the additional funding.

When talks broke off, Katz threatened to pull the team out of Edmonton and move it to Seattle, a contender for an NHL club if expansion or relocation occurs.

Although councilors voted to start off talks again, they also voted to bring in a mediator, who is expected to appoint a financial analyst to examine the numbers.

Both sides keep hoping to get an agreement in place to put shovels in the ground by April on the $478-million downtown rink.


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