Tuesday, November 22, 2016

Great Lakes and Upper South in the News: "Pistons’ return lauded as a slam dunk for downtown" from Detroit News

Great Lakes and Upper South in the News: "Pistons’ return lauded as a slam dunk for downtown" from Detroit News

The multi-layered deal unveiled Tuesday to move the Pistons back to Detroit combines millions in public and private investment to add even more punch to downtown’s thriving sports and entertainment scene.

Starting next season, the Pistons’ home court will be in the city after 39 years of playing in the suburbs, part of a deal the owners estimate could have a $596 million economic impact in southeast Michigan. The deal includes a request for up to $34.5 million in taxpayer-backed bonds to pay for arena upgrades.

The Pistons will play in Little Caesars Arena, the still-under-construction multimillion-dollar venue that also will be the home ice of the Detroit Red Wings. In 2018, the Pistons will move its corporate offices to the city and build a separate “community center/practice facility” that could cost another $32 million to $55 million at a yet-to-be-announced location; the Pistons would back the bonds on that expenditure.

Continued on website.

Link:
http://www.detroitnews.com/story/news/local/detroit-city/2016/11/22/pistons-move-detroit/94282486/

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