From The Archive: Money & Power: Detroit Red Wings (2025)

Jake Tye

Aug 1, 2025, 14:13

Jake Tye

Aug 1, 2025, 14:13

Updated at: Aug 1, 2025, 17:07

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Money & Power: Detroit Red Wings - Jan. 2 2025 - Vol. 78, Issue 06 - Bob Duff

Ownership - Chris Ilitch

If Chris Ilitch can replicate with the Red Wings what he just did with his Detroit Tigers and get them back to the playoffs, the fan base’s opinion of him will certainly change. Currently, Ilitch is seen as a penny pincher by the Red Wings faithful. His parents, Mike and Marian Ilitch, on the other hand, owned well-earned reputations for spending whatever it took to put the team on track for the Stanley Cup.

To be fair to the Wings’ current president and CEO, his parents’ spending wasn’t constrained by a salary cap. They could allow their GMs free rein in order to keep winning, which is part of the reason the Red Wings made 25 successive playoff appearances between 1990-91 and 2015-16.

It’s also fair to say that when Chris Ilitch ascended to the throne as the man in charge of the Red Wings, he was arriving to a cupboard bereft of prospects.

It was the younger Ilitch who brought in Red Wings icon Steve Yzerman as GM in 2019, and he’s allowed Yzerman to take a patient approach to what has proven to be a complete overhaul of the team.

It’s now been eight seasons without playoff hockey in Hockeytown. “I would say, first of all, I have a ton of confidence and a ton of respect for Steve Yzerman and his approach,” Ilitch said. “I’ve been in business just about 40 years now. I’ve been a part of a lot of senior-leadership searches. I have to say, Steve has been exceptionally thorough and very thoughtful. He knows exactly what he’s looking for, and he’s just been very methodical and very purposeful.”

Marian Ilitch has always operated in the background during the family’s ownership of the club, but make no mistake, she’s still very much involved in the day-to-day decision-making process, and the cheques that come from the team still bear her signature. She has held the dual roles of owner and treasurer since the Ilitch family bought the club in 1982.

Marian is also a leading entrepreneur in the food, sports and entertainment industries and is widely recognized as one of the most successful businesswomen in the United States. Working hand-in-hand, Marian and her husband and lifetime business partner, Mike Ilitch (1929-2017), grew a single, family-owned Little Caesars pizza store in Metro Detroit into the third-largest pizza chain in the world.

Top Business Executive - Ryan Gustafson

In March of this year, Ryan Gustafson was promoted to the role of president and CEO of Ilitch Sports and Entertainment. He’d previously been serving as executive VP and COO, roles he began filling in March 2023.

In his current role, Gustafson is leading all business operations involving the Red Wings, Detroit Tigers, Little Caesars Arena, Comerica Park (home of the Tigers) and the Fox Theater, as well as the Ilitch family joint investment in 313 Presents, the live-entertainment wing of the family’s business. Gustafson also manages the business operations of the Lakeland Flying Tigers, the single-A affiliate club of the Tigers.

Gustafson is a Harvard MBA with 15 years of experience working in professional sports. He was initially hired by the organization in 2022. Previously, Gustafson, whose specialization is in strategic planning, worked for the Seattle Dragons (XFL), Seattle Sounders (MLS) and San Diego Padres (MLB).

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What Will It Take For Detroit to Be Considered a Cup Contender? Exploring benchmarks the <a href="https://thehockeynews.com/nhl/detroit-red-wings">Red Wings</a> must hit if they want to be a Stanley Cup contender next season

Governor - Chris Ilitch

Alternate Governors: Jim Devellano, Ryan Gustafson, Steve Yzerman

Top Hockey Executive - Steve Yzerman

Into year 6 of the so-called ‘Yzerplan,’ there still hasn’t been playoff hockey played under the leadership of GM Steve Yzerman. A Red Wings icon as a player, the former captain hasn’t been able to provide iconic hockey as head of the club’s hockey operations.

Yzerman remains steadfast in his plan to ultimately craft a club that can compete year in and year out for the Stanley Cup. “Everybody can have their own opinion and whatnot,” Yzerman said. “I want to see progress in our team as a whole, progress in all the areas we’ve always talked about and progress individually from our younger players. As long as we’re moving in the right direction. Obviously, making the playoffs would be another positive step, so I’ll worry about that as the season goes along. We’ll see how much progress we’re making.”

Inside the Arena

Since opening in the fall of 2017, Little Caesars Arena has gained a spot as one of the most impressive buildings currently serving as home to an NHL team. Built at a cost of $862.9 million, Little Caesars Arena is a state-of-the-art entertainment venue. It features four full-service restaurants inside the facility around the arena concourse. As well as hosting the Red Wings, Little Caesars is also home to the NBA’s Detroit Pistons.

One inside wall in the arena is done in red brick to resemble Olympia Stadium, home to the club from 1927 to 1979. There’s also an oversized portrait of boxer Joe Louis that welcomes fans arriving on game night. Detroit’s previous home rink carried his name.

The rink also pays homage to the great tradition of the Red Wings franchise. Inside, there are sculptures of club legends Gordie Howe, Ted Lindsay and Alex Delvecchio. Memorabilia spanning the team’s near-century of NHL existence is also prevalent throughout the arena, and interactive displays allow fans to learn more about the team’s history with the push of a button.

One drawback to the new building is that the proposed $2.1-billion District Detroit, a neighborhood of new residential and retail outlets that was to surround the arena, has yet to materialize.

While there hasn’t been any Stanley Cup playoff action seen at Little Caesars Arena, other events of prominence have taken place in the building, including NBA playoff games involving the Pistons. Another featured event was the 2024 NCAA March Madness basketball tournament, which held some early-round games there.

There’s also been PWHL games played at the rink, and UFC 218 was held there.

With the demolition of the Pistons’ former home, the Palace of Auburn Hills, Little Caesars Arena has also become the main arena venue for concerts in Detroit. Acts from Mariah Carey to ELO and Justin Timberlake have played there, as well as current pop stars such as Jelly Roll and Billie Eilish.

Alex DeBrincat Becomes Red Wings' Most Lethal Single-Season Goal Scorer Since 2009 The Detroit Red Wings may have missed the Stanley Cup Playoffs in the 2024-25 NHL season, but one of the major positives that they will be taking into the upcoming 2025-26 campaign was the goal scoring output of forward <a href="https://thehockeynews.com/nhl/detroit-red-wings/latest-news/red-wings-debrincat-takes-to-the-skies-with-u-s-navy-blue-angels-in-top-gun-style-adventure">Alex DeBrincat.</a>

NHL Valuations

$2.125B (Forbes)
$1.78B (Sportico)
$2.5B (Roustan)

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