Jul 22, 2013, 11:22 AM EST
The city of Detroit’s bankruptcy filing should not affect the Red Wings’ plans to build a new downtown arena, according to Brian Holdwick, executive vice president of business development of the Detroit Economic Growth Corp.
From The Associated Press:
Plans for an 18,000-seat arena were announced by the team’s owners and local economic development officials last month, although the new proposal still needed to be approved by the City Council and a handful of state and local agencies. The Red Wings said there will be $367 million in private investment and $283 million in public funds in the complex, which would also include residential, retail and office space.
Spending that kind of money on an arena — in a city where bankruptcy could mean laying off employees and scaling back basic services — could draw some public resistance. Holdwick said funding for the project would come from tax increment dollars that can’t be used by the city’s general fund anyway, so it’s not necessarily a zero-sum game between building an arena and easing Detroit’s financial pain.
But despite Holdwick’s opinion, the Red Wings have yet to comment on the city’s bankruptcy filing, which may suggest the club isn’t entirely confident that nothing has changed.
After all, in a place where so many people are facing economic hardship, spending millions of taxpayer dollars on a new arena for a pro sports team was already politically sensitive. After last week’s news, it may be even more so.
Dec 13, 2013, 12:36 AM EST
Quite the funk they’re in when it comes to this aspect.
Dec 13, 2013, 12:17 AM EST
Bet these guys were tired after.
Dec 12, 2013, 11:57 PM EST
What a day in Calgary. More Brian Burke!
Dec 12, 2013, 11:34 PM EST
Yeah, these are tough times.
Dec 12, 2013, 11:10 PM EST
Didn’t think too highly of it.
Dec 12, 2013, 10:45 PM EST
But two points eluded them.
Dec 12, 2013, 10:23 PM EST
Dec 12, 2013, 10:06 PM EST
And it’s getting worse in New York.
Dec 12, 2013, 9:17 PM EST
Nice moment in Philly.
Dec 12, 2013, 9:04 PM EST
Montreal defenseman’s night ends early.
Dec 12, 2013, 8:52 PM EST
Jonathan Bernier takes over.
Dec 12, 2013, 8:15 PM EST
Tough time to be a Columbus goalie.
Dec 12, 2013, 7:39 PM EST
Cam Talbot was cheered upon entering the game.
Dec 12, 2013, 7:10 PM EST
No word on the severity of TT’s injury.
Dec 12, 2013, 6:27 PM EST
He’s been out with a lower-body injury.
Dec 12, 2013, 5:17 PM EST
Oilers coach wants to use “speed” and “smarts” tonight.
Dec 12, 2013, 4:40 PM EST
Oh, and Anders Nilsson sent back to AHL.
Dec 12, 2013, 4:23 PM EST
That didn’t take long.
Dec 12, 2013, 3:53 PM EST
Plus, the Rangers have issues.
Dec 12, 2013, 3:31 PM EST
Coyotes hoping “it’s not long, long-term.”
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