Crain's Detroit Business

"Welcome to the world of soccer."

Detroit 75 Kitchen is trading its space outside Oakland Mall for a permanent location in Madison Heights.

Seven months later, Temple Bar is back in business.

There's new life at the "fail jail" site.

The move comes amid a leadership change at Detroit's 37-year-old monorail.

A long-in-the-works hotel at Woodward and Mack will soon open to guests.

It was the first winery in Detroit in 60 years when it opened five years ago in the old Stroh’s Ice Cream building.

The Detroit City FC soccer club has been losing millions of dollars each year. So how will it pay for the new stadium and potentially other complementary development like housing and retail space it wants to build in southwest Detroit? The answer gets to the heart of the business operations of the city’s professional soccer organization, which have been in the red cumulatively by more than $6.4 million between 2021-23, according to filings with the SEC. “Welcome to the world of soccer,” said Stefan Szymanski, a professor of sport management in the University of Michigan School of Kinesiology. Szymanski, who has followed Detroit City FC for years and is an expert on sports and soccer economics, said professional soccer teams often are money-losing operations whose value proposition goes far beyond the balance sheet. And still, new stadiums get built. “They thrive because it’s the world’s most dominant sport, partly because in some sense they represent more than just the profits of the owners,” Szymanski said. “They represent communities. That sort of helps to explain why people are prepared to put money in, even if they don’t see much money coming out.” While Detroit City FC has been in the red for at least the last three years, a new stadium comes with a slew of new and expanded revenue-generating opportunities that couldn’t be tapped before. Those include lucrative opportunities such as stadium naming rights and jersey sponsorships. “Assuming we have a commercial bank involved with this project, there are going to be a number of safeguards the bank is going to take,” said Brian Connolly, a land use attorney who is now an assistant professor of business law at the University of Michigan - Stephen M. Ross School of Business. “Certainly the bank is going to be interested in the fact the soccer team is a money-losing venture.” Read more from Kirk Pinho: https://lnkd.in/gDY7vfmF

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Spartan Stadium is poised for a $28 million makeover.