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.
Mar 9, 2014, 1:18 PM EDT
He’s scored in every New Jersey game since the Olympics.
Mar 9, 2014, 12:33 PM EDT
That’s on top of all the talent they traded away.
Mar 9, 2014, 11:58 AM EDT
Can Johan Franzen maintain his incredible post-Olympics pace?
Mar 9, 2014, 11:30 AM EDT
The 21-year-old is making the transition from the KHL.
Mar 9, 2014, 10:37 AM EDT
It helped lead St. Louis to its fourth straight win.
Mar 9, 2014, 9:48 AM EDT
Buffalo hasn’t been so bad lately, despite what the team looks like on paper.
Mar 9, 2014, 9:00 AM EDT
They both desperately need every point they can get.
Mar 9, 2014, 1:09 AM EDT
A much-needed victory for Vancouver.
Mar 9, 2014, 12:14 AM EDT
Short ones on Saturday.
Mar 8, 2014, 11:32 PM EDT
Roberto Luongo: quiet, so far.
Mar 8, 2014, 11:27 PM EDT
Tyler Seguin is just on fire right now.
Mar 8, 2014, 11:09 PM EDT
Dallas scored once on the resulting five-minute major penalty.
Mar 8, 2014, 10:59 PM EDT
Seeding battles heat up.
Mar 8, 2014, 9:55 PM EDT
Jaroslav Halak wins in his Washington debut.
Mar 8, 2014, 9:40 PM EDT
He scored the game-winner for New Jersey against Carolina.
Mar 8, 2014, 8:53 PM EDT
A solid Saturday for the Sens.
Mar 8, 2014, 8:24 PM EDT
His No. 9 ascends to the rafters.
Mar 8, 2014, 8:11 PM EDT
His latest acquisitions Matt Moulson and Cody McCormick are set to debut Saturday.
Mar 8, 2014, 7:39 PM EDT
Sounds like he’ll take his talents to Europe instead.
Mar 8, 2014, 6:37 PM EDT
He was diagnosed with bacterial meningitis earlier this month.
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