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DETROIT -- The Detroit Red Wings and city officials on Wednesday announced a $650 million plan for a new arena development for the NHL team in Detroits downtown entertainment and sports district. Plans for an 18,000-seat arena were announced by the teams owners and local economic development officials. Red Wings owner Mike Ilitch has long said he wanted a replacement for the 32-year-old Joe Louis Arena. The new proposal -- essentially a framework of financing and development plans -- still needs to be approved by the City Council and a handful of state and local agencies, but its seen as an important first step. The Red Wings said there will be $367 million in private investment and $283 million in public funds in the complex, which would also include residential, retail and office space. Developers said the public money would come from existing economic development funds and requires no new taxes or funds from the cash-strapped city. Detroit, the largest city in the country under state financial oversight, is struggling with a long-term debt that emergency financial manager Kevyn Orr believes is more than $17 billion. "Today, this public-private partnership took a significant step forward in laying the groundwork for a major catalyst development, which will create approximately 8,300 jobs, stimulate economic activity and have a positive and lasting impact on our community," said Christopher Ilitch, son of Mike Ilitch and president and chief executive of Ilitch Holdings Inc., another family company. The citys Downtown Development Authority approved a "memorandum of understanding" with Olympia Development of Michigan, which is owned by Ilitch and his wife, and Wayne County, home to Detroit. Ilitch also owns the Detroit Tigers, and his family owns Little Caesars Pizza and downtown Detroits Fox Theatre. Under the plan, the authority would own the arena and event centre complex, while Olympia Development would have exclusive rights to use, manage and operate it, and hold naming rights. The arena is slated to be built near the Detroit Tigers Comerica Park and the Detroit Lions Ford Field, close to the intersection of Interstate 75 and Woodward Avenue. The proposed location is a couple miles away from the Red Wings current arena. Red Wings officials said it was too soon to estimate when construction would start or end. Michigan lawmakers in December approved legislation allowing property tax dollars collected by the Downtown Development Authority to be used for the development. The authority has been allowed for nearly two decades to finance economic stimulus projects by selling revenue bonds to be paid off with the tax money. It takes in about $12.8 million a year that otherwise would have gone into a fund for public schools statewide. Developers and supporters of that legislation said it will create thousands of new construction jobs and pump $1 billion into Michigans economy. Opponents counter that funding a private stadium with taxpayer dollars shouldnt be a priority, especially when that money was otherwise going to the School Aid Fund. "Were talking about jobs ... talking about enhancing the entertainment district. Its a win-win for everybody. The Ilitch family has been a very big supporter of Detroit and we agree that Joe Louis Arena is dated," Wayne County Executive Robert Ficano said, adding that county road funds may be used for some infrastructure work associated with the new stadium. Mayor Dave Bing said in a statement that the project will "continue to add momentum to the transformation of the city." Detroit is experiencing economic activity in its downtown and Midtown neighbourhoods, but other parts of city are grabbling with tens of thousands of abandoned or vacant homes and businesses. Orr, the citys state-appointed financial emergency manager, didnt return messages seeking comment Wednesday.Discount Air Jordan . Luis Suarezs double powered Liverpool to a 4-0 victory over Fulham, and Southampton easily overcame Hull 4-1 to continue the south coast clubs impressive start to the season. Liverpool and Southampton sent Chelsea down to fourth place as the west London club was held to 2-2 at home. Cheap Jordans Canada . General manager Jarmo Kekalainen told Aaron Portzline of The Columbus Dispatch on Friday that he wants to see Gaboriks contributions go beyond the scoresheet before considering a long-term deal for the soon-to-be unrestricted free agent. http://www.discountairjordancanada.com/ . - Derek Wolfe says hes finally healthy after suffering a seizure in November that doctors now believe was related to the spinal cord injury he suffered in the preseason. Air Jordan Canada Sale . In what the team had called a retirement, Ryan said Thursday that he is resigning as chief executive of the Rangers in a move effective at the end of this month. Jordan Shoes Canada Sale . But the quarterback hopes to stay involved in football after officially calling it quits Tuesday. "Id love to look at those opportunities as they arise," Pierce said in an interview from his Winnipeg eatery.Richard Whiting has brought his 12-year spell at Hull to an end by turning his loan deal with Championship leaders Leigh into a permanent move.The 31-year-old centre or second-rower scored 78 tries in 257 games for Hull after joining them from Featherstone in 2004 and was a member of their 2005 Challenge Cup-winning side. Unable to break into Lee Radfords team this year, he joined the Centurions two months ago and will now stay on loan at the Leigh Sports Village until the end of the season, when he will take up a contract until the end of 2017.Leigh coach Neil Jukes said: Richard is a great professional and has proved himself to be a big asset during his time with us.He is a very versatile player and has really enjoyed his time here. I know that in one way he will be sad to leave Hull after giving many years of valuable service to them but he is excited by the challenge at Leigh Centurions and ready to write a new chapter into his illustrious playing career.Whiting was named Super Leagues young player of the year in 2005 and scored a try in Hulls shock Challenge Cup final win over Leeds. He was also in the Hull team that reached the 2006 Super League Grand Final.Whiting said: I knew at some point it would be time to say goodbye.The opportunity has presented itself at Leigh where I am really enjjoying playing and it is an exciting time to be around the club so it is the right time for me and the club.ddddddddddddWe have a great squad at Leigh and a chance to go up into Super League, which is exciting and something I want to be part of. Whiting joined Leigh on loan earlier this year Hull coach Lee Radford said: Rich has been a fantastic servant to the club since day one and his utility value has been important over the many years he has played for us.Hes done the same job in whichever position hes been asked to play, both in the build-up to matches and switching during games.We are at a point where we couldnt guarantee Rich regular footy and he is at the stage in his career where that is important, he needs to be playing week in-week out.Leigh have presented him with the opportunity to have that both this season and beyond, so the call was a no-brainer for him.Also See:Rugby League on SkyFixtures and resultsFollow @SkySportsRLPundits ' ' '