The funds from Ottawa, you mean. Your conceited as fuck province (whose economy you don't contribute to by being unemployed) isn't the only one to send taxes to the federal. Maybe it should also be noted that Edmonton would have likely gotten the same deal and that without it, they still seem out of a new arena to replace their present relic.
That said, this new arena, short of federal money, shares funding between the provincial government, the city and a private effort by Quebecor, the group that will also purchase the team. They already bought the rights to name the arena, at a price actually higher than what is paid for the Air Canada Center.
The money is there but it's not under construction yet however ; they're currently working out what exactly they will build.
I frankly don't see why it couldn't. There's an existing arena that can be used until the new one is complete, quite similarly to the MTS Center waiting to land an NHL team to start thinking about upgrades. I also think Québec works better as a market in the long run than Winnipeg does.
All I'm saying is, there's no reason to miss an opportunity. Winnipeg could get their team and there might be none available after that. Let's at least make it a competition and I'm pretty sure the current Atlanta owners would enjoy how much that might improve the selling value of their team.