If Detroit's application for bankruptcy protection is approved, the city will have great flexibility to choose how to restructure its books. The city will be able to renege on debts and sell off assets it owns. Here's a look at some of Detroit's most valuable holdings that could be vulnerable in bankruptcy.

Photograph by Christian Heeb/laif/Redux

If Detroit's application for bankruptcy protection is approved, the city will have great flexibility to choose how to restructure its books. The city will be able to renege on debts and sell off assets it owns. Here's a look at some of Detroit's most valuable holdings that could be vulnerable in bankruptcy.

Photograph by Christian Heeb/laif/Redux

What Detroit Could Sell in Bankruptcy

Motor City Selloff
Motor City Selloff

If Detroit's application for bankruptcy protection is approved, the city will have great flexibility to choose how to restructure its books. The city will be able to renege on debts and sell off assets it owns. Here's a look at some of Detroit's most valuable holdings that could be vulnerable in bankruptcy.

Photograph by Christian Heeb/laif/Redux
Joe Louis Arena
Joe Louis Arena

Championship banners and retired numbers of the Detroit Red Wings hockey team hang from the rafters above the ice at Joe Louis Arena, which sits on riverfront land. In June the city announced plans to build a new downtown arena for the Red Wings.

Photograph by Bill Pugliano/Getty Images
Detroit Zoo
Detroit Zoo

Polar bears play at the Detroit Zoo, which is owned by the city but operated by the nonprofit Detroit Zoological Society. The zoo brings in more than $15 million a year through ticket sales and other revenue sources.

Photograph by Bill Pugliano/AP Photo
Detroit Historical Society
Detroit Historical Society

A Motor City exhibition at the Detroit Historical Society, which runs two museums for the city. The museum collection includes about 60 rare cars that could be auctioned off.

Photograph by Detroit Historical Society
Detroit Institute of Arts
Detroit Institute of Arts

The collection of the Detroit Institute of Arts, including The Thinker by Auguste Rodin and objects dating to the Renaissance, is valued at more than $2 billion. Michigan Attorney General Bill Schuette has said the artworks are held in a public trust and can’t be sold.

Photograph by Bill Pugliano/Getty Images
Self-Portrait of Van Gogh
Self-Portrait of Van Gogh

One of Van Gogh’s self-portraits, an example of the collection at the Detroit Institute of Arts, is valued at $60 million, according to the Detroit Free Press.

Photograph by Detroit Institute of Arts, USA / City of Detroit Purchase / The Bridgeman Art Library
Campus Martius Park
Campus Martius Park

Detroit’s Campus Martius Park sits in a mixed-use neighborhood in the downtown area.

Photograph by Paul Warner/Getty Images
Belle Isle
Belle Isle

The city bought Belle Isle, a 983-acre island in the Detroit River, for $200,000 in 1879. The park’s master plan was designed by Frederick Law Olmsted, who also created New York’s Central Park.

Photograph David Coates/Detroit News/AP Photo
Eastern Market
Eastern Market

The food producers and vendors at Detroit's historic Eastern Market attract as many as 40,000 visitors each Saturday.

Photograph by Paul Warner/Getty Images