12:40pm: King and the Flames held a press conference to address the offer. He said that the Flames will reveal their counter-proposal next week, and that they’re not going to hide anything any longer. King revealed that the two sides had not even met since July 31st, and that was when they “surrendered” that a deal would not happen. He reiterated that the Flames ownership group has never wavered in their goal of keeping professional sports in Calgary, and that they would “already be gone” if they were only going for a “money grab.”

11:12am: In the latest battle over who will pay for an NHL arena, the Calgary Flames front office announced this week that they were “no longer pursuing a new facility” and that the negotiations with the city over public funding were going nowhere. The Mayor of Calgary, Naheed Nenshi shot back at the Flames, saying that the city had always been negotiating in good faith but still things were left at something of an impasse.

Now, the Canadian Press is reporting that the city has offered to pay for one-third of the proposed $555MM building costs, though that still doesn’t seem good enough for the Flames. The report states that the team wants public funds to cover “closer to half” of the cost. The public war of words will likely continue, with both Flames President Ken King and Nenshi using the issue politically, heading into the civic elections next month.