Ten days before the 40th anniversary of the Saddledome opening, the Calgary Flames announced on Thursday that they have finalized an agreement with the City of Calgary, the Calgary Stampede and the Alberta provincial government to build a new arena.

Construction is slated to begin next year on the new arena adjacent to the Saddledome, which will cost $800 million Canadian ($584 million U.S.) and is expected to be ready for the 2026-27 season.