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.
Apr 18, 2014, 2:27 AM EDT
But it’s one game.
Apr 18, 2014, 1:37 AM EDT
Apr 18, 2014, 1:21 AM EDT
Things got interesting in the third period.
Apr 18, 2014, 12:53 AM EDT
Apr 18, 2014, 12:46 AM EDT
Yeah, not a good night for him.
Apr 18, 2014, 12:46 AM EDT
This game may take a lot out of both teams.
Apr 18, 2014, 12:41 AM EDT
Colorado erases two-goal deficit to send it to extra time.
Apr 18, 2014, 12:07 AM EDT
It at least seems like Jonathan Toews is shaking off bumps and bruises.
Apr 17, 2014, 11:54 PM EDT
That was fast.
Apr 17, 2014, 11:36 PM EDT
He had a big night.
Apr 17, 2014, 11:22 PM EDT
These teams don’t like each other.
Apr 17, 2014, 10:58 PM EDT
The Blues forward is usually the aggressor.
Apr 17, 2014, 10:47 PM EDT
Opting to go with Mike Brown instead.
Apr 17, 2014, 10:35 PM EDT
He’ll remember that one.
Apr 17, 2014, 10:25 PM EDT
Battle of California.
Apr 17, 2014, 10:18 PM EDT
Stating the obvious.
Apr 17, 2014, 9:58 PM EDT
Could this be a key one?
Apr 17, 2014, 9:42 PM EDT
A cap hit of $7.5 million this season.
Apr 17, 2014, 9:40 PM EDT
Carl Hagelin’s face haunts Philly in Game 1.
Apr 17, 2014, 9:26 PM EDT
Did you hear Patrick Roy’s playing career ended against the Wild?
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- FYI: Hartnell and Voracek have black beards now 39