The arena situation in Calgary took another twist Thursday, with the Flames revealing that they had been prepared to contribute $275 million to a new arena.

The Flames released a nine-page report, which included the financial details of their proposed contributions. The organization said funding would also include $225 million from a Community Revitalization Levy, which would be generated from other developments in the immediate area around the arena.

Last week, it was reported that the Flames were no longer pursuing a new arena in Calgary. The club reiterated as much in their report Thursday.

“In a “small market” city, even one with an NHL team, a privately funded arena is not economically viable. The City’s proposal is just not workable (or even for that matter, “fair”, based on other arena deals in comparable cities),” the organization stated in the report.

“As a result, after over two years of discussions, we see absolutely no basis upon which a new arena agreement can be achieved with the City, and we have concluded that there is no point to continue the pursuit of a new arena in Calgary. Many, including us, believe Calgary is a terrific place for NHL hockey and we certainly have great fans. As such, we will strive to operate, as we have for the past 34 years, in the Saddledome for as long as we believe it is feasible.”