Scotiabank Saddledome - Saddledome Foundation

Saddledome Foundation

The City of Calgary established the Saddledome Foundation in 1983 and leased the arena for 50-years to the non-profit organization. Its mandate was to "oversee the operation in a manner that protects taxpayers and benefits amateur sports at the local, provincial and national level". The foundation is made up of a board of nine directors: three appointed by the city, three appointed by the province, and one each appointed by the Calgary Olympic Development Association (now WinSport Canada), Hockey Canada and the Calgary Exhibition and Stampede. The foundation contracted the Stampede to manage the arena, and through its lease agreements with the Stampede and the Flames, earned 15 percent of gross concession sales, 50 percent of net income from luxury suites and executive seating and investment income on the arena's revenues. The Flames signed a 20-year lease in 1983 that earned them 70 percent of advertising revenues and 90 percent of ticket revenues. The Stampede earned 85 percent of concession revenues and all revenue from parking.

As part of the 1994 deal with the city, the Flames bought out the Stampede's contract for $20 million and took over management of the facility. While the city and Saddledome Foundation paid for the 1994–95 renovations, the new agreement required the Flames to pay for future arena maintenance and repairs, as well as any further renovations. The Flames agreed to manage the arena for 20 years and to contribute $14.5 million toward amateur sport in the city over that time. The Saddledome Foundation retains the responsibility of distributing funds to amateur sport. From its inception through 2007, it had allocated over $20 million toward this cause.