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Kris Russell #4 of the Calgary Flames celebrates with Dennis Wideman #6 after scoring what proved to be the game winning goal against the Vancouver Canucks in Game One of the Western Conference Quarterfinals during the 2015 NHL Stanley Cup Playoffs at Rogers Arena on April, 15, 2015 in Vancouver.Rich Lam/Getty Images

The president of the Calgary Flames is expected to detail plans for a new arena for the NHL team later today.

Talk of a replacement for the aging Saddledome has been circulating for years, and Ken King is scheduled to give an update on what is called the CalgaryNEXT project.

He indicated last spring that an announcement about a new downtown arena was imminent.

The project is widely expected to include an arena, a football stadium for the CFL Calgary Stampeders and an amateur sports fieldhouse.

The Saddledome, which opened its doors in 1983, is one of the oldest remaining arenas in the National Hockey League.

NHL Commissioner Gary Bettman said earlier this year he believed the Saddledome was outdated and needed to be replaced.