Jul 24, 2013, 5:21 PM EST
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.
Dec 9, 2013, 12:11 AM EST
The check didn’t result in a penalty.
Dec 8, 2013, 11:34 PM EST
Plus the Olympics, legal matters and more.
Dec 8, 2013, 10:58 PM EST
More bad injury breaks for Boston.
Dec 8, 2013, 10:39 PM EST
“It’s getting old,” Brad Richards said.
Dec 8, 2013, 10:10 PM EST
Todd McLellan wasn’t happy on Sunday.
Dec 8, 2013, 9:53 PM EST
Good news/bad news night for Chicago.
Dec 8, 2013, 9:22 PM EST
Is this a faux pas?
Dec 8, 2013, 8:16 PM EST
Dec 8, 2013, 7:24 PM EST
Punishment for Varlamov’s last start or reward for Jiggy’s win?
Dec 8, 2013, 7:13 PM EST
It resulted in a broken ankle.
Dec 8, 2013, 7:01 PM EST
He expects to bring “tons of energy.”
Dec 8, 2013, 6:50 PM EST
Claude Julien believes Brendan Shanahan faces a few tough calls.
Dec 8, 2013, 6:25 PM EST
Ryan Spooner and Matt Fraser are emergency recalls.
Dec 8, 2013, 5:45 PM EST
Dec 8, 2013, 5:32 PM EST
No back-to-back duty for Braden Holtby.
Dec 8, 2013, 5:16 PM EST
The team is unsure if he has a concussion.
Dec 8, 2013, 5:13 PM EST
He’s not even sure if he’s retiring, but even if he is, he doesn’t want the distraction.
Dec 8, 2013, 4:21 PM EST
Los Angeles has been great during his recovery process.
Dec 8, 2013, 3:34 PM EST
Mason might not get that much, but he’s certainly in line for a big raise.
Dec 8, 2013, 2:46 PM EST
His Boston Bruins will play there on Tuesday.
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