Jul 22, 2013, 11:22 AM EDT
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.
Jul 23, 2014, 7:53 PM EDT
The crash happened on Monday, according to reports.
Jul 23, 2014, 7:20 PM EDT
Will their latest physics improvements make a big difference?
Jul 23, 2014, 5:50 PM EDT
Can they make a compromise by Friday?
Jul 23, 2014, 4:20 PM EDT
“We’ll see what happens. It’s a couple years away.”
Jul 23, 2014, 2:50 PM EDT
Jim Benning, making deals.
Jul 23, 2014, 1:45 PM EDT
“Any of the perceived animosity came from the outside.”
Jul 23, 2014, 12:57 PM EDT
His previously “yet-to-be-determined capacity” has been determined.
Jul 23, 2014, 12:41 PM EDT
“My style and build might be better against the bigger guys.”
Jul 23, 2014, 11:34 AM EDT
Won a couple of Stanley Cups with the Pittsburgh Penguins.
Jul 23, 2014, 10:48 AM EDT
Had seven goals with 21 assists last year for the Avs.
Jul 23, 2014, 10:23 AM EDT
The 23-year-old can now become an unrestricted free agent in the summer of 2016.
Jul 23, 2014, 9:56 AM EDT
Derick Brassard and John Moore to go.
Jul 23, 2014, 9:00 AM EDT
Barry Trotz continues Adam Oates’ alteration, at least for now.
Jul 23, 2014, 9:00 AM EDT
Wednesday’s delectable spread of links.
Jul 22, 2014, 11:00 PM EDT
They locked him up to a four-year deal on Tuesday.
Jul 22, 2014, 10:15 PM EDT
He spent last season playing in Switzerland.
Jul 22, 2014, 9:01 PM EDT
The Cuban-American could help market the sport.
Jul 22, 2014, 7:38 PM EDT
Turning over a new leaf?
Jul 22, 2014, 6:13 PM EDT
That’s $1 million less than his reported asking price.
Jul 22, 2014, 5:15 PM EDT
It’s believed to be worth $2.55 million overall.
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