Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

Canada's oil-producing Alberta looks to NHL to boost hard-hit economy

Published 2020-07-11, 03:43 p/m
© Reuters. NHL: Anaheim Ducks at Calgary Flames

By Rod Nickel

WINNIPEG, Manitoba (Reuters) - Canada's oil-producing province of Alberta, hard-hit by lockdowns caused by the coronavirus pandemic, is counting on National Hockey League (NHL) games to provide a badly needed boost to morale and business.

Edmonton, the provincial capital and home to the NHL's Edmonton Oilers, will be a hub city with Toronto when games resume starting on Aug. 1, the first since the league suspended the season in March. Each city will host 12 teams, sequestering players in so-called bubbles that encompass arenas, hotels and select restaurants.

Fans will not attend the games.

The spread of the novel coronavirus has eased in Canada, allowing the two cities to beat out rivals such as Las Vegas, which has seen increased infections, for the chance to host the games.

Alberta Premier Jason Kenney said hosting games could generate C$60 million ($44.16 million) in economic activity.

"That alone is not going to turn around our economy, but it's a great shot in the arm," he said.

Oilers and Toronto Maple Leafs officials abruptly postponed news conferences on Saturday to discuss the hub cities, citing incomplete talks between the Canadian government and the league.

NHL Commissioner Gary Bettman told reporters the league needed to finalize "a couple of details" with Ottawa. Government officials did not immediately respond to a request for comment.

Alberta's unemployment rate was the second-highest in Canada in June as a crash in oil prices this spring forced energy companies to lay off workers and some businesses remained closed due to the pandemic.

Edmonton is slated to host most of the games, including the Stanley Cup Final that will finish as late as October.

Alberta's chief medical officer has reassured the public that arriving hockey players will not accelerate the spread of the virus if they abide by certain conditions, which include daily testing and restricted movement.

© Reuters. NHL: Anaheim Ducks at Calgary Flames

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.