Originally written on NESN.com  |  Last updated 11/9/14

In these recovering-but-still-rough economic times, few American cities have been hit harder than Detroit, and the Red Wings are no exception to that financial peril. When Olympia Entertainment, which managed the Red Wings, negotiated the team’s lease with Joe Louis Arena, which is owned by the city, part of the deal was that the city would receive 25 percent of its cable television rights. Though that agreement has been in place since 1980, the city has collected none of that money owed, according to The Detroit News. The total amount of that cable revenue could be as much as $70 million. This becomes an issue for at least two reasons. The first is that Detroit mayor Dave Bing has pledged to come down hard on the city’s debtors, which obviously includes the Red Wings. The other issue is that, while all thins is going on, the team is trying to secure public funds for a brand new arena. Worse yet, it appears that Olympia Entertainment has become negligent on other bills, as well. The company has reportedly not paid things like rent and concessions since 2010, and owes the city $6 million for 2011 alone. Although the company’s lease with the city expired, they are known as a “holdover tenant.” Photo via Wikimedia Commons/Joe Louis Arena

GET THE YARDBARKER APP:
Ios_download En_app_rgb_wo_45
MORE FROM YARDBARKER

John Madden: Last play of Super Bowl will 'torment' Pete Carroll

Cristiano Ronaldo nets hat trick, sets career high for goals

WATCH: Cormier tells Jones to get his s-- together

Fans holding 'Free Tom Brady Rally' at Gillette Stadium

Josh Hamilton to be activated by Rangers

LIKE WHAT YOU SEE?
GET THE DAILY NEWSLETTER:

WATCH: Top CB recruit makes insane catch doing backflip

Biggest surprises of the MLB season

Marcus Mariota leads NFL in jersey sales for May

Report: Scott Skiles frontrunner for Magic coaching job

Shanahan: injuries are not why Robert Griffin III struggles

Kyle Korver ruled out for remainder of playoffs

Billy Donovan thanks Florida fans with full-page ad

WATCH: Daniel Cormier gets into it with Ryan Bader

Jim Harbaugh compares his driving to Jeff Gordon's

WATCH: High school seals win with perfect hidden ball trick

Warriors crush Rockets in Houston to take 3-0 series lead

WATCH: D'Angelo Russell whiffs on horrible golf swing

Brian Matusz ejected for having foreign substance on arm

PHOTO: Don Cherry wears wild suit even for his taste

PHOTOS: Gigantic sinkhole at Jack Nicklaus golf course

WATCH: Memphis player catches defense sleeping, scores

WATCH: Astros turn around-the-horn triple play

French Open Women's preview: Who will make the quarters?

NHL News
Delivered to your inbox
You'll also receive Yardbarker's daily Top 10, featuring the best sports stories from around the web. Customize your newsletter to get articles on your favorite sports and teams. And the best part? It's free!

By clicking "Sign Me Up", you have read and agreed to the Fox Sports Digital Privacy Policy and Terms of Use. You can opt out at any time. For more information, please see our Privacy Policy.
the YARDBARKER app
Get it now!
Ios_download En_app_rgb_wo_45

John Madden: Last SB play will 'torment' Carroll

Eight biggest surprises of the MLB season

Bryan Price ejected before first pitch

Vin Scully narrates marriage proposal

Pats fan's obituary defends Brady

Marlins players skip own charity event

John Wall tells All-NBA Team voters to ‘keep sleeping’

Jim Kelly: No doubt Tom Brady cheated

Post-combine NBA Draft big board: Top 30

Ex-players sue NFL for conspiring to push painkillers

Astros surprising, but can get better with Correa

Here come the Giants

Today's Best Stuff
For Bloggers

Join the Yardbarker Network for more promotion, traffic, and money.

Company Info
Help
What is Yardbarker?

Yardbarker is the largest network of sports blogs and pro athlete blogs on the web. This site is the hub of the Yardbarker Network, where our editors and algorithms curate the best sports content from our network and beyond.