Joe Louis Arena has seen the best of time and the worst of times in Red Wings hockey. From the "Dead Wings" Era to the present dynasty.
But the future of the stadium is in question as the deadline to extend the lease is fast approaching.
On Tuesday, Mike Illich will have to notify the city of Detroit whether or not he wants to extend the current lease agreement for the aging arena or if they will leave its friendly confines. The extension would be a 20 year long one, but would be an extension of one of the best lease agreements in pro sports history.
Under the current agreement, Olympia Entertainment—a branch of Illich Holdings—leases Joe Louis Arena, Cobo Arena, and the Joe Louis parking structure for $475,000 a year.
This deal has helped to make the Red Wings one of the richest franchises in hockey.
In comparison, when the Pittsburgh Penguins moved into their new digs, Consol Energy Center next season the lease is for $4.2 million according to Detroit News.
This is evidence of the highly favorable deal the Red Wings received in 1978.
But this deal has some catches.
Joe Louis is one of the oldest stadiums in the National Hockey League and as such needs some serious renovations done to it. Some estimates put the minimum price tag on the renovations around $1.8 million.
However, this would not address all of the items on Illich's list for the Joe. The Joe does not have super suites or private boxes, and thus cannot bring in the same revenue as other arenas.
It is known around Detroit that Mike Illich has had a plan for what he calls, "Fox Town" for the downtown area. Illich already has Comerica Park, home of the Detroit Tigers, the Fox Theatre and Hockeytown Cafe within throwing distance of each other in downtown.
He has also said that he wants to move the Red Wings to Fox Town and then build a covered walkway that connects his four assets together creating an entertainment mecca in downtown Detroit.
Negotiations between the city of Detroit and Olympia Entertainment have been on going for years, but the deadline on the lease runs out on Tuesday and details on the progress between the two sides has been kept secret.
Many signs point to the Red Wings building a new stadium for the 2010 season. Illich's history for one has shown that he does not negotiate with the city when he has his mind set on something. Illich is accused of not taking negotiations to keep the Tigers at Tiger Stadium and allowing it to slip into disarray in order to build Comerica Park.
Illich Holdings has also been quietly been accumulating parking lots and land behind the Fox Theatre without a publicized reason. This would seem as though the Illich Family was gathering up enough land to build a stadium on once they decline the lease on the Joe.
Other signs are that Wayne County Executive Robert Ficano (the county was in on the deals that brought Comerica Park and Ford Field) has been contacted about possibly helping to fund a new structure downtown.
So for now, the fate of Joe Louis Arena lies on the chopping block— at least until Tuesday, when its future will be announced.
If Illich does move to build a new stadium, it might not be a bad thing.
Granted, the Joe has become close to many fans, but it seriously lacks many amenities that other stadiums have. It lacks retail space in the interior and through personal experience, does not well accommodate taller people as their knees are jammed uncomfortably into the preceding row of seats.
It will be a sad day when the Joe finally goes, but Hockeytown will be rewarded with a state-of-the-art stadium that is more fitting of the caliber of hockey team that dwells within it.
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