Ribbon-cutting held at Detroit’s Little Caesars Arena

In an undated photo provided by Olympia Development of Michigan, Little Caesars Arena, foreground, is seen in Detroit with Ford Field and Comerica Park in the background. (Rob Kohn/Olympia Development of Michigan via AP)

DETROIT (AP) — A ribbon-cutting ceremony has been held at an $860 million sports complex that is the new home of the Detroit Red Wings and Pistons.

Elected, business and community leaders got a chance Tuesday to see the 20,000-seat Little Caesars Arena.

The NHL’s Red Wings and NBA’s Pistons will begin their seasons in the coming weeks at the arena.

The Detroit City Council approved $34.5 million in taxpayer-funded bonds for the project. The arena is owned by Detroit’s Downtown Development Authority and will be managed by the Ilitch family’s Olympia Development of Michigan.

The Ilitch family, which owns the Red Wings, is financing most of the project.

A public tour of the arena is planned for Saturday.

The arena is to anchor a 50-block neighborhood of offices, apartments, restaurants and shops.