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.
Aug 19, 2014, 11:00 PM EDT
It’s been a good summer in Dallas.
Aug 19, 2014, 10:00 PM EDT
Yeah, we don’t get it either.
Aug 19, 2014, 8:45 PM EDT
He’s not going out of his way for it, however.
Aug 19, 2014, 7:30 PM EDT
You earn a lot of votes winning a Stanley Cup.
Aug 19, 2014, 6:30 PM EDT
He had a down season and worse playoffs last year.
Aug 19, 2014, 5:30 PM EDT
Will the Rangers reap the benefits?
Aug 19, 2014, 4:45 PM EDT
Can the former 15th overall pick establish himself as a full-time NHLer?
Aug 19, 2014, 4:44 PM EDT
He was second on the team in goals last season.
Aug 19, 2014, 3:40 PM EDT
Capology and Corsi gone wild in Toronto.
Aug 19, 2014, 2:37 PM EDT
It’s 105 games long and — perhaps most importantly — starts in just 33 days.
Aug 19, 2014, 1:35 PM EDT
Pending NHL Board of Governors approval.
Aug 19, 2014, 1:23 PM EDT
After just one year on the job?
Aug 19, 2014, 12:29 PM EDT
And his agent says NHL teams are now expressing an interest.
Aug 19, 2014, 11:26 AM EDT
It’s quite the honor to wear the “C” on Broadway.
Aug 19, 2014, 10:35 AM EDT
So much for the trial of the decade.
Aug 19, 2014, 9:57 AM EDT
Former North Dakota star had 25 goals for AHL Hartford last year.
Aug 19, 2014, 9:00 AM EDT
There are murmurs about a training camp tryout.
Aug 19, 2014, 8:00 AM EDT
An offseason full of change for the 2014 Stanley Cup finalists.
Aug 18, 2014, 11:03 PM EDT
There’s still time to bridge the gap, though.
Aug 18, 2014, 10:00 PM EDT
He’ll probably own most of the franchise’s major records by next season.
- Kovalev compares Subban to Leetch, says he isn’t worth the money 16
- Under pressure: Rick Nash 4
- Wang sells Isles to ex-Caps owner Ledecky 41
- Report: MLSE CEO Leiweke to step down (Update: Leiweke denies move) 5
- Report: Bertuzzi-Moore case settled out of court (Update: Bertuzzi’s lawyer confirms) 34
- Poll: Will Washington get back into the playoffs? 28
- Buffalo lands next two NHL scouting combines 23
- Under Pressure: In Washington? Take your pick 24
- It’s Washington Capitals day on PHT 42
- It’s Florida Panthers day on PHT 8