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Will Detroit's bankruptcy kill Red Wings' arena plans?

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01:48 PM ET 07.22 | The Detroit Red Wings are hoping to play in a new arena soon, not far from where the Tigers are defending their American League title and the Lions will soon start another football season. All this in a city that is filing for bankruptcy, a decision that follows years of decline. Detroit owes billions to creditors and its revenues, like its population, drop each year. Yet it's been largely business as usual on the ice and the playing field. The bankruptcy filing Thursday left the region a bit shaken, but the professional sports teams may be spared any dramatic impact. "We remain confident in the city of Detroit and in its future," the Lions said in a statement Friday. "We do not anticipate that yesterday's announcement will have any impact on Lions home games or our many other events at Ford Field." Spokesmen for the Red Wings and Tigers both declined comment, not wanting to speculate in the immediate aftermath of the largest bankruptcy protection request in U.S. history. But that $650 million arena planned for the Red Wings? That can still become a reality, according to Brian Holdwick, an executive vice president for the Detroit Economic Growth Corp.

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Joe Louis Arena, Tom Szczerbowski/Getty Images Joe Louis Arena, Tom Szczerbowski/Getty Images
July 22, 2013  02:06 PM ET

If you've filed for bankruptcy, all expenditures must be approved by the court. So what's your guess?

July 22, 2013  02:17 PM ET

I thought the new arena was going to be predominantly privately funded. If that is the case, why would it matter that the city is bankrupt?

July 22, 2013  02:19 PM ET
QUOTE(#2):

I thought the new arena was going to be predominantly privately funded. If that is the case, why would it matter that the city is bankrupt?

If that is the case then, no issues. I don't know the business case. City bux are a nono in bankruptcy.

July 22, 2013  02:22 PM ET
QUOTE(#1):

If you've filed for bankruptcy, all expenditures must be approved by the court. So what's your guess?

I'm guessing the Joe for the next ten years. The best ice and boards in the league a lot of players say. The city itself looks horrible on the news.

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July 22, 2013  02:32 PM ET
QUOTE(#6):

RIP Dennis Farina

Dead at 69. (no comment he was a favorite)

July 22, 2013  02:33 PM ET
QUOTE(#7):

Dead at 69. (no comment he was a favorite)

I mean no comment from me, the rest of you have at it:)

July 22, 2013  02:47 PM ET
QUOTE(#7):

Dead at 69. (no comment he was a favorite)

This!

July 22, 2013  02:49 PM ET

Every time I hear about Detroit I think of the famous John Candy movie Canadian Bacon. One of the great scenes!

July 22, 2013  03:14 PM ET
QUOTE(#1):

If you've filed for bankruptcy, all expenditures must be approved by the court. So what's your guess?

My guess is that, for the next few months, the threads will be dominated by the Seattle Red Wings speculation.

July 22, 2013  03:16 PM ET
QUOTE(#2):

I thought the new arena was going to be predominantly privately funded. If that is the case, why would it matter that the city is bankrupt?

I fear the Red Wings will become the new Coyotes now.

July 22, 2013  03:28 PM ET
QUOTE(#6):

RIP Dennis Farina

Criquey. A lot of that going around.

I loved Crime Story.

And he was killer in Snatch.

July 22, 2013  03:29 PM ET
QUOTE(#4):

I'm guessing the Joe for the next ten years. The best ice and boards in the league a lot of players say. The city itself looks horrible on the news.

Save money , have the Tigers send Verlander to the Jays ASAP

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July 22, 2013  03:38 PM ET
QUOTE(#12):

I fear the Red Wings will become the new Coyotes now.

The Wings have stable ownership who is pretty smart with money (and who is spearheading the new arena development). I suspect the Red Wings will be taken care of, even if the city is collapsing around them.

July 22, 2013  03:39 PM ET
QUOTE(#16):

The Wings have stable ownership who is pretty smart with money (and who is spearheading the new arena development). I suspect the Red Wings will be taken care of, even if the city is collapsing around them.

And he's currently spending very large coin on the Tigers without having a problem.

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