A deal has officially been signed to allow Calgary to move forward on construction of its new event centre — replacing the aging Saddledome — with construction slated to begin next year. 

On Thursday, Calgary Mayor Jyoti Gondek said formal agreements had been signed by the City of Calgary, the province of Alberta, Calgary Sports and Entertainment Corporation (CSEC), which owns the NHL’s Calgary Flames, and the Calgary Stampede. 

That’s a green light to start design and construction work on the new home of the Calgary Flames, and the surrounding culture and entertainment district. 

This comes after the groups reached a deal in principle in April. 

The arena is slated to cost $800 million, while other expenses, including surrounding infrastructure, bring total project costs close to $1.2 billion.  

The city will be contributing $537 million to the project, while CSEC is putting forward $356 million. 

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