Jul 24, 2013, 5:21 PM EDT
Despite the city of Detroit having filed for bankruptcy, the Michigan Strategic Fund today approved the Detroit Downtown Development Authority’s request to use millions of dollars in taxpayer money to help build a new downtown arena for the Red Wings.
Per the Associated Press, Gov. Rick Snyder defended the decision as one that’s good for the future of the insolvent city.
“As we stabilize the city government’s finances, as we address those issues and improve services, Detroit moves from a place where people might have had a negative impression — although there are great things already going on — to being a place that will be recognized across the world as a place of great value and a place to invest,” said Snyder.
The $450 million arena is expected to be 58% publicly financed, according to the Detroit Free Press.
The arena’s completion is slated for 2017.
A new downtown home for the Wings has been the subject of speculation for years. The team’s present home, Joe Louis Arena, opened in 1979.
Jul 23, 2014, 11:00 PM EDT
Makes sense for a franchise that frequently favors puck possession.
Jul 23, 2014, 10:00 PM EDT
Can the STAR system help reduce concussions?
Jul 23, 2014, 9:00 PM EDT
They’ll feature a “skating-only” ice crew next season.
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.
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