The Edmonton Oilers announced on Tuesday that the citys downtown arena project has been given the green light to begin construction in next month and the teams new home will be scheduled to open in the fall of 2016. The City of Edmonton and Katz Group said that the $480 million Guaranteed Maximum Price (GMP) for Rogers Place has been met. "For the Katz Group and the Edmonton Oilers, we have always believed Edmontons need for a new arena was a huge opportunity to help transform our downtown into the vibrant, diverse and dynamic community that is the hallmark of every great city," said Oilers owner Daryl Katz in a statement. "We couldnt be more excited to see that vision becoming a reality and I want to thank Mayor Iveson, City Council, former Mayor Stephen Mandel, and the entire team at the City and everyone else who has laboured over this project for years for their tenacity and faith in this project." In addition to the $480 million for the arena, the cost was also confirmed through the GMP process for the four other components of the project - a community rink, Winter Garden, LRT connection and pedestrian pedway. The total price for the arena project is $606.5 million, which includes a $2 million contribution from MacEwan University towards the community rink to increase capacity and improve functionality. "This is an exciting day for Edmonton as we move ahead with a project that will help realize our vision of a more vibrant downtown and ensures that the Edmonton Oilers remain a vital part of our city for years to come," said Edmonton Mayor Don Iveson. "The look of Rogers Place is bold and forward-looking, just like Edmonton. As part of our downtown vision, it will serve as a symbol of our citys great future." The GMP process means that the construction manager bears all risk for cost increases in labour and materials throughout the project, protecting the City and Katz Group from having to pay more if the costs change. The new arena will seat 18,641 for hockey, with added corporate suites, wider concourses and diverse amenities. The Oilers have played out of Rexall Place since 1974 - when it was called Northlands Coliseum. Cheap Authentic Lions Jerseys .Y. -- Nothing seems to phase No. Cheap Detroit Lions Jerseys .com) - Marian Gaborik scored his sixth goal in the last four games to help the Los Angeles Kings top the Arizona Coyotes, 4-2, Saturday at Staples Center. http://www.cheapdetroitlionsjerseysauthentic.com/?tag=authentic-barry-sanders-jersey . Adam Lind provided the power and rookie starter Marcus Stroman had the best start of his young career as the Blue Jays dumped the Yankees 8-3 at Rogers Centre. Stroman, making his fifth start for Toronto, allowed one earned run and three hits over a career-high eight innings. T.J. Hockenson Jersey . The hard-serving 22-year-old from Thornhill, Ont., became the first Canadian to be ranked in the Top 10 on the ATP World Tour thanks to his runner-up performance at Rogers Cup in Montreal. Wholesale Lions Jerseys . He looked very comfortable Wednesday night. Konerko had a big three-run double and Gordon Beckham homered for the second straight game, leading the Chicago White Sox to an 8-3 victory over the sliding Chicago Cubs.Montreal, QC (SportsNetwork.com) - Max Pacioretty scored two goals on his 26th birthday, helping the Montreal Canadiens beat the St. Louis Blues 4-1 on Thursday at Bell Centre. Dale Weise and Lars Eller also scored and Carey Price made 31 saves for the Canadiens, who snapped a five-game losing streak in the series. Montreeal rebounded from Tuesdays 4-0 loss to Pittsburgh to win for the seventh time in its last eight games.dddddddddddd Rookie Jake Allen stopped 26-of-30 shots for St. Louis, which has opened a four-game road trip with consecutive losses. The Blues had won 10 of 11 before Tuesdays 2-0 loss to Boston. Cheap Buffalo Sabres Gear Wholesale Calgary Flames Jerseys Cheap Adidas Colorado Avalanche Jerseys Montreal Canadiens Outlet Store Wholesale New Jersey Devils Jerseys Adidas Arizona Coyotes Jerseys Cheap Adidas Boston Bruins Jerseys Cheap Adidas Carolina Hurricanes Jerseys Chicago Blackhawks Shop Free Shipping Wholesale Columbus Blue Jackets Jerseys Dallas Stars Shop Free Shipping Cheap Adidas Detroit Red Wings Jerseys Anaheim Ducks Jerseys China Wholesale Edmonton Oilers Jerseys Florida Panthers Shop Free Shipping Wholesale Los Angeles Kings Jerseys Minnesota Wild Outlet Store Cheap Adidas Nashville Predators Jerseys Cheap Adidas New York Islanders Jerseys New York Rangers Winter Classic Jerseys Cheap Adidas Ottawa Senators Jerseys Cheap Adidas Philadelphia Flyers Jerseys Wholesale Pittsburgh Penguins Jerseys Cheap Adidas San Jose Sharks Jerseys St. Louis Blues Winter Classic Jerseys Wholesale Tampa Bay Lightning Jerseys Toronto Maple Leafs Outlet Store Vancouver Canucks Outlet Store Cheap Adidas Vegas Golden Knights Jerseys Cheap Adidas Washington Capitals Jerseys Cheap Adidas Winnipeg Jets Jerseys ' ' '