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A stadium subsidy is a type of government subsidy given to professional sports franchises to help finance the construction or renovation of a sports venue. Stadium subsidies can come in the form of tax-free municipal bonds, cash payments, long-term tax exemptions, infrastructure improvements, and operating cost subsidies. Funding for stadium ...
Little Caesars Arena is a multi-purpose arena in Midtown Detroit.Opening on September 5, 2017, the arena, which cost $862.9 million to construct, replaced Joe Louis Arena and The Palace of Auburn Hills as the home of the Detroit Red Wings of the National Hockey League (NHL) and the Detroit Pistons of the National Basketball Association (NBA), respectively.
Using numbers from a sports research and consulting firm, CNN reported, "Twenty new NFL stadiums have opened since 1997 with the help of $4.7 billion in taxpayer funds." See photos of the 10 most ...
There are three active major sports venues within the city: 41,782-seat Comerica Park (home of the Detroit Tigers), 65,000-seat Ford Field (home of the Detroit Lions), and Little Caesars Arena (home of the Detroit Red Wings and Detroit Pistons). Detroit is known for its avid hockey fans.
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The Palace of Auburn Hills, commonly known as the Palace, was a multi-purpose arena located in Auburn Hills, Michigan.Opened in 1988, it was the home of the Detroit Pistons of the National Basketball Association (NBA), the Detroit Shock of the Women's National Basketball Association (WNBA), the Detroit Vipers of the International Hockey League, the Detroit Rockers of the National Professional ...
In 1979, Olympia Stadium Corporation became the management company for the newly built Joe Louis Arena, which was owned by the city of Detroit and leased to the Red Wings. Mike and Marian Ilitch bought Olympia Stadium Corporation as part of their 1982 purchase of the Red Wings, and renamed it Olympia Arenas.