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The Senators issued a statement Wednesday expressing “regret” at the NCC’s decision.

“For over a year, we have tried to resolve our concerns about the flaws in the economic model for the redevelopment, both within the context of our private negotiations with the NCC and then publicly since Nov. 22, 2018,” the team said.

It said it was dismayed when the NCC declined to meet with the parties to try to resolve the “challenges” after the Crown corporation had publicly acknowledged the problems within RendezVous last month and initially given the group until January to sort them out.

“Despite our best efforts to resolve the impasse as late as yesterday, we were unsuccessful in bringing our vision to fruition,” the Senators said.

Ruddy’s Trinity Developments said it would not be commenting Wednesday.

Photo by THE CANADIAN PRESS/Adrian Wyld

Scrapping the term sheet will allow the NCC board to make a decision about moving forward at its meeting in January, the agency said.

Wednesday’s announcement by the NCC was hardly a surprise after the ugly legal battle between Melnyk and Ruddy became public in recent days, but it still strikes a blow to Ottawa residents and Senators fans.

Much of LeBreton Flats has remained an undeveloped eyesore for five decades, and has become a symbol of dashed dreams in Ottawa. Plans for a vibrant redevelopment anchored by a hockey arena seemed to finally spell the end of that history of failure on LeBreton. Until now.

The failure of the development to move forward also raises questions about the future of the Senators who have faced attendance issues in recent years and for whom a downtown arena represented new possibilities.