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Tag Archives | future arena

Ilitch emerges as qualified buyer for Pistons

Mike Ilitch, the owner of the Detroit Red Wings (NHL) and the Detroit Tigers (MLB), has been deemed a qualified buyer of the Detroit Pistons and Palace Entertainment by the NBA, giving him another powerful chit in his pursuit of a new downtown arena. The NBA has its own system for matching buyers with teams: […]

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At least three potential buyers emerge for Pistons

At least three bidders are emerging as potential buyers of the Detroit Pistons and The Palace, as two unnamed groups are expected to tour the arena and view some of the team’s financial paperwork; Red Wings owner Mike Ilitch has already expressed his interest. While the NBA might not make a lot of financial sense […]

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Edmonton: New downtown arena financially feasible

Combine a $5 ticket surcharge with a $100-million contribution from Edmonton owner Daryl Katz, and you’ve reached the point where a new downtown Oilers arena is economically viable, say city officials — raising the stakes on new-arena discussions in the city. “A new downtown arena with an increase in the number of seats and other […]

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Katz: I will spend $100 million on new downtown arena

Daryl Katz has shifted positions once again on his potential contribution to a new downtown arena for the Edmonton Oilers, saying he would contribute $100 million directly to arena construction costs, not to fund an adjoining entertainment district. Katz has shifted his position on the ultimate destination of his financial contribution twice already. When he […]

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Oilers arena zoning hearing delayed

Issues over the potential funding for a new downtown Edmonton Oilers (NHL) arena is causing the Katz Group to postpone a key zoning hearing, in order to put together a formula that could appeal to politicians and taxpayers. In theory, the June 26 meeting was slated to an inocuous hearing on the zoning of a […]

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