The Copper & Blue, an Edmonton Oilers community

Given $550 million, how could Edmonton remake the city if it didn't involve a downtown arena?

An economist weighs in on Edmonton's arena deal. He doesn't like the deal at all.

Now that City Council and the Katz Group have once again agreed on a deal for the Oilers new downtown home I'd like to ask our Councillors just one question: Why did you agree to this deal?

In a process where almost nothing has been quite as it seemed it's not surprising that a done deal is anything but done. Unless of course you have a very interesting definition of the word done.

Daryl Katz sent yet another letter to the Mayor yesterday, this time declining an invitation to appear before Council to discuss the downtown arena project which is looking doomed. For the only person who can save the project it was an odd choice.

Since nobody bought the relocation threat, Daryl Katz decided that an apology might be a good idea. Make no mistake the apology was a calculated as the threat to relocate was.

The Katz Group is using relocation to try and leverage a better arena deal. Unfortunately for them that leverage isn't worth a damn and now I think Edmonton City Council should yank the whole deal right off the table.

The Katz Group has asked the City of Edmonton to sweeten an already very sweet deal for the proposed downtown arena. But it's a bluff and Council needs to call that bluff.

I've always thought that, sooner or later, the arena deal would get done. With the latest developments now I'm not so sure.