A new report by the city of Calgary says the Flames' arena proposal could cost more than double the initial estimate.
The report claims the price tag of the CalgaryNext project will likely reach $1.8 billion, with taxpayers responsible for at least $1.2 billion, according to CBC News' Robson Fletcher.
The project was unveiled by the Flames and the CFL's Stampeders last August with an estimated cost of $890 million.
"Administration has come to the conclusion that CalgaryNext is not feasible in its present form or location," the report reads, while recommending an alternative plan to build a new NHL arena at Stampede Park and a new football stadium and field house at the McMahon Stadium site.
City council is expected to discuss the report on Monday.
"I know many Calgarians are looking for a better arena space, but this is just one option," Mayor Naheed Nenshi said of the CalgaryNext proposal.
"I've always said: public money must be used for public benefit and council will have a robust discussion about this on Monday. City administration has also identified a potential alternative for council's consideration that may accomplish the same objectives, but at a lower cost."
When the Edmonton Oilers move into their new arena next season, the Flames will technically have the oldest arena in the NHL: The Scotiabank Saddledome was built in 1983.
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