Edmonton appoints committee to study new arena

Edmonton Mayor Stephen Mandel has announced a "blue ribbon" committee that will study the feasibility of building a new arena and how to pay for it.

The chair of the nine-person board will be Lyle Best, head of Quikcard Solutions Inc.

He serves on the Oilers’ Community Foundation Board and the Northlands Board and is executive director of the Edmonton Oilers Alumni Association.

The $400-million arena would likely be built downtown on the site of the post office just north of city hall.

"There are lots of good examples of cities using new arena developments as a springboard to redevelop or rejuvenate downtowns and entertainment districts. Our committee will look at whether this approach will work in Edmonton," Best said in a statement.

A consultant's report released in February concluded that refurbishing Rexall Place could cost as much as $250 million, a price tag the arena's owners hoped would launch a debate over whether to build a new NHL arena in Edmonton.

Built in 1974, Rexall Place is the oldest Canadian home ice arena in the NHL and the third-oldest in the league, behind Mellon Arena in Pittsburgh and the Nassau Veterans Memorial Coliseum, home to the New York Islanders.

The committeewill release a publicreport by the end of the year, but it could take five years or more to replace Rexall Place.