Originally written December 26, 2012 on Kukla's Korner:
When Ilitch Holdings and Olympia Entertainment chose not to renew Joe Louis Arena's lease with the City of Detroit in 2010, they did so in order to allow Cobo Hall to revert back to the City's management, and that's worked out very well for the City as Cobo's renovation will allow the North American International Auto Show to grow over the next few years. In return, in theory, anyway, any outstanding debts toward the City, Wayne County or any other potential assessor were going to be revisited and renegotiated once Olympia both secured some City/county or State subsitization toward building a follow-on rink (which has happened) and said plans had been firmed up (which hasn't happened yet), thus allowing Olympia and the City of Detroit to negotiate terms regarding the Ilitches' lease on Joe Louis Arena until their follow-on rink's completed at some point in the future. As the City of Detroit is hovering particularly precariously close over out-and-out ...
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