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City of Edmonton and NHL's Oilers agree to resurrect deal for new $601 million rink

The Edmonton Oilers and the city have agreed to resurrect a deal to build a new downtown arena.

City councilors have voted to accept a cost-shared deal for a $480 million rink. After surrounding infrastructure is added in, the final bill will be $601 million.

The money will come from taxpayers, Oilers owner Daryl Katz and a ticket tax. The deal is still more than $100 million short, which is money Edmonton Mayor Stephen Mandel hopes will come primarily from the provincial government.

The plan is for construction to start this fall and the building to open in 2016.