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 28, 2015, 10:15 PM EDT
You know, the one injured on “that” slash from P.K. Subban.
Aug 28, 2015, 9:00 PM EDT
Which is great news for Dallas.
Aug 28, 2015, 7:45 PM EDT
The club’s top pick at this year’s draft.
Aug 28, 2015, 6:30 PM EDT
Former Avs and Habs goalie spent all of last year in the AHL.
Aug 28, 2015, 5:15 PM EDT
Yet another NHL club hiring a fancy stats guy.
Aug 28, 2015, 3:55 PM EDT
Scored a career-high 19 goals and 40 points last year.
Aug 28, 2015, 3:00 PM EDT
Former Panthers, Devils head coach takes over a team that “hit a little bit of a rut.”
Aug 28, 2015, 1:40 PM EDT
After an up-and-down rookie year, he’s looking to solidify his spot.
Aug 28, 2015, 12:19 PM EDT
Legendary Isles coach had been battling Parkinson’s and dementia.
Aug 28, 2015, 12:00 PM EDT
Bit of an issue last season, if you’ll recall.
Aug 28, 2015, 11:00 AM EDT
From little-used backup to clear-cut No. 1.
Aug 28, 2015, 10:03 AM EDT
It all comes down to goaltending.
Aug 28, 2015, 9:00 AM EDT
Their playoff streak ended after 10 straight appearances.
Aug 28, 2015, 8:00 AM EDT
Friday’s collection of links.
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.
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