The cost is 800 million. A new hockey arena to be built in Calgary

In Calgary, the name of the new arena has been announced, and renderings have been revealed. The arena is expected to be completed by 2027 and will have a capacity of over 18,000 spectators, according to Sports Business Journal.

The total cost of the project exceeds 800 million dollars. The city of Calgary will contribute nearly 375 million Canadian dollars, accounting for approximately 56% of the arena's total cost, with the remainder covered by the club's owners.

The current home of the team, the Scotiabank Saddledome, has hosted NHL games since 1983, making it only slightly younger than Madison Square Garden. Thus, the decision to build a new arena has been long overdue. In the coming years, the Flames are unlikely to see significant improvements, but moving to Scotia Place could potentially turn things around.

The arena's design was inspired by the region's indigenous peoples and reflects the four elements – fire, ice, earth, and air. Especially at night, the new arena is intended to resemble a home fire, a source of warmth and energy that unites people.

It is worth noting that the NFL team Carolina Panthers will remain in Charlotte, as the city council allocated funds for stadium renovations. According to the plan, $800 million has been allocated for the stadium's refurbishment.