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.
Jul 3, 2015, 11:00 PM EDT
Scored 13 goals in 54 games last season.
Jul 3, 2015, 10:00 PM EDT
He was sentenced in September, 2013.
Jul 3, 2015, 9:00 PM EDT
Spent the last three seasons in the KHL.
Jul 3, 2015, 7:44 PM EDT
Buffalo also signed Cal O’Reilly, who played last season with the AHL Utica Comets.
Jul 3, 2015, 6:43 PM EDT
He signed a six-year, $36 million deal with Columbus.
Jul 3, 2015, 5:44 PM EDT
“Joel is a quality veteran player who can score but also plays an extremely hard-nosed brand of hockey.”
Jul 3, 2015, 5:00 PM EDT
Could make things interesting next season.
Jul 3, 2015, 4:00 PM EDT
Brings a wealth of success, experience at AHL, collegiate levels.
Jul 3, 2015, 3:12 PM EDT
$52.5 million extension.
Jul 3, 2015, 2:50 PM EDT
“This long-term commitment that assures he will be an important part of our team for years to come.”
Jul 3, 2015, 2:37 PM EDT
“They gotta come in and knock somebody out of the box.”
Jul 3, 2015, 2:12 PM EDT
A one-year, two-way deal for the ex-Islander.
Jul 3, 2015, 1:00 PM EDT
Charlie Huddy, Pascal Vincent and Wade Flaherty all inked three-year extensions.
Jul 3, 2015, 12:46 PM EDT
Expected to battle Brian Elliott for the starting role in St. Louis.
Jul 3, 2015, 12:23 PM EDT
“It’s an exciting time to be a part of this organization.”
Jul 3, 2015, 11:44 AM EDT
Jul 3, 2015, 11:32 AM EDT
Bobby Sanguinetti to Buffalo; Sharks grab Mark Cundari.
Jul 3, 2015, 11:30 AM EDT
Where he “contributed to the development of Jonathan Quick, Jonathan Bernier and Martin Jones.”
Jul 3, 2015, 11:19 AM EDT
How patiently will he wait?
Jul 3, 2015, 10:46 AM EDT
The 44th overall pick at the 2008 NHL Entry Draft.
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