Originally written on NESN.com  |  Last updated 12/28/12

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

Redick gives Clippers ‘F-minus’ grade for losing Jordan

Report: PGA pulls Grand Slam event from Trump course

Three things to watch for on Hard Knocks with the Texans

Pierre-Paul could face charges for possession of fireworks

Report: Warriors trade David Lee to Celtics for Gerald Wallace

LIKE WHAT YOU SEE?
GET THE DAILY NEWSLETTER:

Rivers believes Gates' PED use was unintentional

Favre felt 'bothered' by Green Bay's decision to trade him

Ned Yost explains Alex Rodriguez’s All-Star Game snub

Donovan McNabb arrested for DUI after rear-ending car

It is progress time for the Philadelphia 76ers

Andrew Luck talks Super Bowl hopes and Patriots

How the Pacers' new identity will look

Matt Bonner blames iPhone 6 for elbow injury, shooting woes

Evaluating Tarasenko’s eight-year, $60M contract

Tigers should accept reality and become trade deadline sellers

5 running backs who could break the Heisman Trophy streak

Roy Halladay snaps selfie while getting a speeding ticket

National Basketball Players Association to set up heath insurance for retirees

'Corrected' 2015 MLB All-Star Game picks

NHL expansion process begins, application cutoff set for Aug. 10

Cardinals send rookies to Starbucks to pick up order

Mark Cuban fined for discussing Matthews and Jordan deals

Baseball's most productive low-authority hitters of all-time

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

5 RBs who could break the Heisman Trophy streak

Watch to watch on Hard Knocks with the Texans

Tigers should become trade deadline sellers

JPP could face criminal charges?

'Corrected' 2015 MLB All-Star Game picks

MLB's 2015 All-Star snubs

Gronk, David Ortiz in latest Dunkin Donuts iced coffee video

The 2015 All-Star reserves & pitchers

Are LeBron, Cavs just playing teenage games?

Bucks threatens move to Vegas, Seattle

Bryce Harper to skip Home Run Derby

Video shows De'Andre Johnson punching woman

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.