A recent report suggesting that a new arena is being planned to replace the aging Saddledome has many asking where it would be built and who would pay for it.

According to the Calgary Herald,  a new arena concept was presented during a private meeting with council members earlier this week.

The proposal is said to include a new home for the Flames, as well as the Stampeders and an amateur fieldhouse.

Flames president and CEO Ken King has said in the past that a new facility would need to be centrally located for it to work.

Mayor Naheed Nenshi is on record saying a fieldhouse is the number one unfunded infrastructure project in the city. Some say incorporating it in a new arena design could entice council into setting aside some money for the project, which could cost more than half a billion dollars.

The article suggests that Flames President and CEO Ken King met with the mayor who then brought the proposal forward to councillors but Nenshi says that isn't true.

"I meet mister King often. He's an important community citizen and certainly every now and then we blue sky about things he might want to do but council has received no formal proposal and as you know council members may not disclose the contents of conversations that may or may not have been held in camera," he said.

CTV News also contacted Ken King by phone who did not divulge any details about a new arena proposal and said he has "made an agreement with everybody that everybody gets everything at the same time" and that he needs to stand by that.