Um yeah, about that Detroit Pistons move…

Normally, sports doesn’t have much to do with politics here in Michigan.

Only in this case, what is happening behind the scenes should be of concern to everyone living in Michigan.

Hint: Think politicians being generous with other people’s money.

{Continued below the fold}

I what was the most over-hyped news story during a slow news week, The Detroit Pistons have announced that they are moving back into Detroit from Auburn Hills.

Now, why Tom Gores would want to move away from a stadium that he already owns and into one that he doesn’t, really doesn’t make any sense on the outset.

Until you look between the lines.

From yesterday’s Detroit Free Press:

“Financial details are still being worked out for the Pistons’ move to the Red Wings’ new arena. But a preliminary version of the deal limits new public investment to $34.5 million (emphasis mine) that will be generated by refinancing and extending $250 million in public bonds previously issued to help pay for the arena’s construction. The  funds will pay for NBA locker rooms, floor seating and other changes to accommodate basketball.”

And the best part?

The Detroit City Council (along the the DDA) still need to sign off on this “deal”.

It should be noted that there is still some resentment from locals at the $285 million Mike Ilitch had received already to pay for his new toy.

It should also be noted who will be on the hook should Detroit fail to pay back on these bonds?

Here’s a hint: It very likely WON’T be Tom Gores, Mike Ilitch, Christopher Ilitch (or anyone else from the Ilitch clan for that matter), or Olympia Entertainment.

Stay tuned.

MI-republican Weasel Group

Latest confab purportedly of local Detroit business and political leaders discussing Detroit Pistons move.

You Betcha! (8)Nuh Uh.(0)

  3 comments for “Um yeah, about that Detroit Pistons move…

  1. Corinthian Scales
    November 23, 2016 at 10:26 am

    Freinds! Romans! Countrymen! Lend me Your Pensions!!!

    Be happy Snyder/Calley are term limited.

    You Betcha! (4)Nuh Uh.(0)
  2. Sue Schwartz
    November 23, 2016 at 4:00 pm

    Docha feel the de ja vue? Engler did the exact same thing also involving illitch and in return Engler flew to Israel in Illitch's jet and a bunch of other garbage went on.

    You Betcha! (3)Nuh Uh.(0)
    • Corinthian Scales
      November 23, 2016 at 8:56 pm

      Engler? Happy reading:

      Safe Roads YES!

      You Betcha! (1)Nuh Uh.(0)

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