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View Diary: Detroit Emergency Manager Approves Go-Ahead on New $450 Million Sports Arena (247 comments)

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  •  The Red Wings (12+ / 0-)

    sell out most if not all of their regular season games.   The team was valued at over 300 million last year - one of the top 5 or 6.  The owner also owns the Tigers.  His net worth is somewhere in the few billion range.

    Poor guy needs all the financial support that the State can give him.

    "You have attributed conditions to villainy that simply result from stupidity"

    by newfie on Fri Jul 26, 2013 at 11:04:01 AM PDT

    [ Parent ]

    •  has the owner (7+ / 0-)

      threatened to take the team elsewhere yet?  That is the classic extortion move.

      And it isn't just sports teams.  A big hotel in my city was purchased by a multibillion dollar hedge fund (from another state) a few years ago.  They got it real cheap along with a deal for a bunch of other hotels.  They paid a quarter billion dollars for these hotels.  Then they sent their hot shots to the city and said, "we need ten million in tax breaks to renovate the hotel or we will close it down".   Right after they bought it.  

      The idiots in charge of the city gave them the money.  The citizens had no say in the matter.

      A few months after that the same hedge fund raised another $5 billion to buy more properties.   Meanwhile our city is falling apart in many of the neighborhoods and we are told there is no money to fix anything.

      •  the sad thing is (1+ / 0-)
        Recommended by:
        newfie
        has the owner (1+ / 0-)

        threatened to take the team elsewhere yet?  That is the classic extortion move

        that the extortion is probalby no longer even necessary.

        Dogs from the street can have all the desirable qualities that one could want from pet dogs. Most adopted stray dogs are usually humble and exceptionally faithful to their owners as if they are grateful for this kindness. -- H.M. Bhumibol Adulyadej

        by corvo on Fri Jul 26, 2013 at 01:04:16 PM PDT

        [ Parent ]

      •  Don't know. (0+ / 0-)

        But that has been the trend.  You know unless our elected officials stand up to the extortionists then it will continue.  Sure close it down...  But keep paying the taxes and make sure your property is maintained. Or I'm afraid the fines will mount.  I'm sure the other hotels in the area will like the boost in business.

        "You have attributed conditions to villainy that simply result from stupidity"

        by newfie on Fri Jul 26, 2013 at 02:03:04 PM PDT

        [ Parent ]

    •  The guy who owns the Red Wings and ... (1+ / 0-)
      Recommended by:
      newfie

      ... the Tigers is ANOTHER pizza dude (Little Caesars)?  Are they as conservative as Domino's, Papa John's and our favorite Godfather (Herman Cain)?  I had no idea there were so many pizza magnates.

      Looking through the bent backed tulips, To see how the other half lives, Looking through a glass onion - John Lennon and Paul McCartney

      by Hey338Too on Fri Jul 26, 2013 at 03:51:38 PM PDT

      [ Parent ]

      •  Ilitch isn't the wingnut that Monaghan is (2+ / 0-)
        Recommended by:
        Hey338Too, DuzT

        I don't know his politics, actually, but he's not Tom Monaghan (the Domino's guy).

        Procrastination: Hard work often pays off after time, but laziness always pays off now.

        by Linnaeus on Fri Jul 26, 2013 at 04:31:25 PM PDT

        [ Parent ]

        •  I don't know about Mike Ilitch, (1+ / 0-)
          Recommended by:
          Hey338Too

          but his daughter, Denise, was talked up as a potential Democratic gubernatorial candidate in '10, so I assume the rest of the family is Democratic as well.

          Granted, I don't know which wing of the party they're a part of.

          Still, at least they're not Monaghan.  He's a nutjob.

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