Olympia Entertainment admitted that it selected a buyer for the Detroit Red Wings' new arena in The District Detroit 50-block area renovation project. Who is it? Who knows! Chris Ilitch, owner Mike Ilitch's son and president and C.E.O. of Ilitch Holdings, disclosed that the formal announcement could come within the next month or so. In the meantime, it may be good to know how naming rights operate so when the announcement is made, we can discuss the deal in an educated fashion and form an opinion on whether it was a smart decision overall.
Read MoreHere in Detroit, our fervor for the return of hockey season radiates brighter than ever, courtesy of the nauseating hangover the Tigers have left us with and the infinite number of ways the Lions manage to lose. Detroit is more than just any hockey town - it is "Hockeytown"! Those of us twenty-somethings who grew up in Michigan during the era where Detroit emerged and began its reign as "Hockeytown" were wonderfully privileged children. I think it is appropriate to learn about how we earned the right to call our city Hockeytown. So, I will dish out what "Hockeytown" is in the legal world of sports.
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