Dec 26, 2012, 10:25 AM EDT
The Detroit Red Wings’ plans to build a new arena came under scrutiny thanks to them getting taxpayer money to fund the project. A recent financial report won’t be doing the team any favors for how things look on the surface.
Christine MacDonald of The Detroit News reports the team and owner Mike Ilitch may owe the struggling city up to $70 million thanks to an old provision in the team’s television contract as it concerns the city-owned Joe Louis Arena. As you might suspect, this isn’t going over well with city politicians.
“The Ilitches are a multibillion-dollar operation, and they are inside a city that is sinking,” said City Councilman Kwame Kenyatta. “(Mike Ilitch), I am sure, knows about this and should be forthcoming to help the city. Help us by writing a check, not by negotiating a new lease.”
Oh yeah, the lease. The team’s lease to play at The Joe expired in 2010. Since then, the team reportedly hasn’t paid rent nor property taxes to play there and the city hasn’t gotten their cut of concessions either. Whoops.
As George Malik of blog Abel To Yzerman says, however, Detroit’s financial problems are huge and what the Wings may or may not owe the city is just a drop in a very broke bucket. That said, perhaps the city should think about forking money over for a new building if they’re owed such a big stack of cash as it is.
Aug 27, 2015, 10:00 PM EDT
The defenseman had 34 points in 66 OHL games last season.
Aug 27, 2015, 8:58 PM EDT
He might end up with a two-year deal.
Aug 27, 2015, 8:21 PM EDT
He’s entering the final season of his five-year, $22 million deal.
Aug 27, 2015, 6:48 PM EDT
Playoff seeding will be determined by points percentage.
Aug 27, 2015, 5:18 PM EDT
It could prove to be a bargain deal.
Aug 27, 2015, 4:25 PM EDT
The Penguins are a win now team coming off of a quick first round exit.
Aug 27, 2015, 2:55 PM EDT
Can they stay healthy?
Aug 27, 2015, 2:06 PM EDT
“I’m fully aware that at some point in time we may have to address that position.”
Aug 27, 2015, 1:15 PM EDT
At which time he’ll be reevaluated.
Aug 27, 2015, 12:17 PM EDT
The two have a bit of a history, as you may recall…
Aug 27, 2015, 12:00 PM EDT
It’s a benchmark he’s never hit before.
Aug 27, 2015, 10:52 AM EDT
The 21-year-old looks like he’ll be counted upon heavily.
Aug 27, 2015, 9:48 AM EDT
For a border incident that occurred in mid-June.
Aug 27, 2015, 9:00 AM EDT
A first round exit has led to a busy summer.
Aug 27, 2015, 8:00 AM EDT
Thursday’s collection of links.
Aug 26, 2015, 9:32 PM EDT
Development coach Patrick Rissmiller is among New Jersey’s latest additions.
Aug 26, 2015, 8:08 PM EDT
His conditioning comes on the ice, not in the weight room.
Aug 26, 2015, 6:40 PM EDT
Two terrible seasons didn’t dissuade fans expecting brighter days ahead.
Aug 26, 2015, 5:11 PM EDT
Philadelphia has a great core, but does it have the depth?
Aug 26, 2015, 4:00 PM EDT
Tanking isn’t likely, yet may it be wise?
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