Mike Illitch

For the past 35 years, "Hockeytown" in Detroit has meant the on Detroit's Riverfront.  But " The Joe's" days as the home of the Detroit Red Wings are numbered.

The Wings are headed north to the Cass Corridor area between downtown at Midtown.

A new $450-million, 18,000 seat arena is on the way for Wings owner Mike Ilitch,  perhaps as early as the 2016-2017 season.

And what's drawing fire from critics like my next guest is the fact that the stadium deal has the public covering nearly 60% of the sticker price the Ilitches will get all the revenues from the new stadium, and the whole deal was unveiled publicly the week after Detroit declared bankruptcy.

Bill Bradley is a columnist at Next City, where he covers economic development in cities. He dug into the new Wings arena in a piece for nextcity.org. It's title? "Red Wings Stadium Upset! Why Taxpayers are Losing--Again--in Detroit."

I’ve talked before about the sweetheart deal that the city of Detroit gave Mike Ilitch in connection with the new hockey stadium and entertainment complex being built in downtown Detroit.

The city is giving Ilitch’s Olympia Entertainment all the land they need, absolutely free. The taxpayers are also kicking in most of the cost of the project.

In return, the city gets nothing – not one dime of the parking or pizza or ticket sales revenue.

We still don’t know how Detroit’s bankruptcy is going to play out. We don’t know how much pensions will finally be cut. We don’t know whether the state will kick in the funds needed to save the collections of the Detroit Institute of Arts.

But we do know two things.

In the end, a lot of people – pensioners – who don’t have much money now will have even less.

And we also know this: Bankrupt, poor Detroit and the state are going to spend more than $250 million to build a new hockey and entertainment arena for Mike Ilitch, who owns the Detroit Red Wings.

That’s more than half the entire cost of the project.

This is the second arena the city has helped build for the Red Wings. The team now plays in Joe Louis Arena, which was built 35 years ago.

They give a small cut of their proceeds to the city – about $7 million a year for Detroit, but once the new arena is finished, know how much the taxpayers will get? Nothing.

Politicians are falling all over themselves in Washington and in Lansing to oppose spending any money to, as they put it, “bail out” Detroit.