DETROIT (WWJ) - The future of the Joe Louis Arena site might be getting clearer.
The Detroit Mayor's office has reached a deal to that could decide the future of the site, located along the edge of the Detroit River.
Under the plan, a bankruptcy creditor that owns the site would turn it over, along with the old Joe Parking Garage, to the Sterling Group. The company would pay Detroit $2 million, then another $12 million a year through 2039.
The Sterling Group hasn't revealed any plans for what it might do with the property.
The deal still needs the approval of the Detroit City Council.
The Red Wings played at Joe Louis Arena from 1979 through 2017, before moving to the newly-built Little Caesars Arena. In addition to being the home base for four Stanley Cup championships, six Stanley Cup finals, various sporting events and concerts, the arena also hosted the 1980 Republican National Convention.