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.
Jun 30, 2015, 3:54 PM EDT
RFA defenseman appeared in a career-high 76 games last year.
Jun 30, 2015, 3:39 PM EDT
Rangers and Bruins let their respective rearguards walk, thereby deepening the free agent pool.
Jun 30, 2015, 3:15 PM EDT
So says his agent.
Jun 30, 2015, 2:41 PM EDT
Jun 30, 2015, 2:04 PM EDT
Cap hit around $5.75 million.
Jun 30, 2015, 1:31 PM EDT
Former first-round pick is relieved after a “stressful” last few days.
Jun 30, 2015, 1:30 PM EDT
Who might be interested?
Jun 30, 2015, 1:14 PM EDT
Former Buffalo forward had three points in six playoff games for Montreal.
Jun 30, 2015, 1:07 PM EDT
Don Sweeney. Busy man.
Jun 30, 2015, 12:15 PM EDT
33-year-old had 14 goals and 38 points last year.
Jun 30, 2015, 12:13 PM EDT
Six goals in 57 games last season.
Jun 30, 2015, 11:53 AM EDT
More Boston news.
Jun 30, 2015, 11:43 AM EDT
The latest in an ongoing saga.
Jun 30, 2015, 11:11 AM EDT
Jun 30, 2015, 10:57 AM EDT
“This doesn’t keep me awake at night. Since the day we got Dougie Hamilton, I’ve had the best sleeps of the past few years. “
Jun 30, 2015, 10:42 AM EDT
With Antti Raanta gone, he’s now set as the backup’s backup.
Jun 30, 2015, 10:24 AM EDT
26-year-old defenseman has missed just one game over the last two years.
Jun 30, 2015, 10:23 AM EDT
It’s reportedly worth $2.9 million.
Jun 30, 2015, 9:50 AM EDT
They both finished in the top 10 in minutes in 2014-15.
Jun 30, 2015, 8:57 AM EDT
He made his NHL debut during the 2013-14 campaign before his career was derailed.
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