Prince Fielder’s Economic Impact for Detroit — and Milwaukee

If you’re a baseball fan, you already know that the ground shook last week when the Detroit Tigers signed slugger Prince Fielder. His nine-year, $214 million contract cost the Tigers as much as Ford plans to spendĀ on a new engine plant in Brazil.

Prince Fielder at his first Detroit Tigers press conference

ButĀ Crain’s Detroit Business says the Tigers — and Detroit — can afford the former Milwaukee Brewers star.

That word comes from Chris Ilitch, the son of Tigers’ owner Michael Ilitch, and the president of Illitch Family Holdings, Inc., the family’s group of companies that includes pizza giant Little Caesar’s Enterprises.

Those companies, including the Tigers, the Detroit Red Wings, and Detroit’s Motor City casino, generate about $4 billion in annual revenue.

In 2010, the latest year for which information is available, the Tigers had annual revenue of $192 million, according to Forbes.com. Continue reading “Prince Fielder’s Economic Impact for Detroit — and Milwaukee”

Detroit, Milwaukee Get Ready For Post-Season Economic Boost

There may be no joy in Boston or Atlanta, but there is plenty among baseball fans in the Great Lakes. The Detroit Tigers and Milwaukee Brewers are headed to division playoff series in the American and National Leagues, respectively.

The Brewers have a leg up on their neighbors across Lake Michigan: they’ve clinched home field advantage in the best of five series. They play the Arizona Diamondbacks on Friday and Saturday at Miller Park in Milwaukee.

The Tigers face the New York Yankees those same days at Yankee Stadium in New York, then return to Comerica Park on Monday.

Both teams have been big economic drivers for their home towns, and both cities will get another economic boost from post-season games, which could last all this month, depending on how far each team goes. That’s good news for everything that benefits from a sports team: restaurants, parking lot attendants, hotels, souvenir sales and the guys who hawk peanuts. Continue reading “Detroit, Milwaukee Get Ready For Post-Season Economic Boost”