The president of the Calgary Flames says the process for developing a new rink is well underway.

The hockey club says after more than two decades at the Saddledome it's time for something new.

"It's a wonderful stadium, we have wonderful memories. I think it's time to see where we can go in the future," says Harley Hotchkiss, a co-owner of the Flames.

Talk of a new arena has been circulating for years but now there seems to be some action.

"We have had several architectural looks created for our new building, we have been in contact with several major architectural and construction firms in Calgary," says Ken King, the president of the hockey club.

King says Stampede Park is an area where the new arena could be built.

King also says they are considering a second location but he won't divulge many details. "We think this should be an urban building, we think it should be downtown, most of our fans feel the same way."

King says there have been informal talks with federal and provincial officials. They've also talked with the city about the possibility of a land deal.

The Flames currently have a lease with the Saddledome that runs until 2014.