Ratner promises “not a nickel” from public for Nassau Coliseum renovations

CNBC’s Squawk Box asked Brooklyn Nets minority owner and Barclays Center developer Bruce Ratner if he’ll ask for public money to help with Nassau Coliseum if he wins the right to revamp that facility, and here’s what he said (according to Atlantic Yards Report’s transcription):

“What kind of subsidy will you ultimately be getting to do this?” Ratner was asked. “How much is the government going to have to put forward?

“This is one of those opposites,” Ratner replied. “We’re giving the municipality money, not a nickel from the municipality, all privately financed, all privately done. The county will make lot of money from this. In terms of economic impact and in terms of rent.”

Nothing for roads?

“One of the great things–it’s surrounded by a huge number of roads,” Ratner replied. “There’s millions of people that go by every day. There’s no infrastructure needed. After all, it was a Coliseum before and it is now, so no additional roads and so on. So, actually, it’s ready to be done, it is centrally located. I cannot emphasize what kind of incredible location it is and what kind of incredible population.”

Arena and stadium developers make “no public money” promises all the time when they end up asking for hidden subsidies like tax kickbacks, so we’ll see. (Or at least we’ll see, if Ratner beats out Madison Square Garden for the rights to take over the Coliseum, something that’s expected to be announced in coming weeks.) I’m not going to link to the original CNBC page because eeeagh autoplayed video, but here’s a lovely embedded video if you want to watch Ratner himself say it with his own two lips:

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3 comments on “Ratner promises “not a nickel” from public for Nassau Coliseum renovations

  1. “I saw some plans for the Barclays center once.”

    Yeah, that guy’s going to be surprised if he saw the Gehry tower plans and now sees a rusty bean/turd building.

  2. It amazes me that everyone is not appalled and cynical about the disposition of the property at the Nassau Coliseum. How or why is any county executive or politician qualified to choose between two private developers to execute a master lease on the most prime land assemblage on Long Island? And where is it mentioned or written what price or rent the “winner” will pay Nassau County taxpayers?
    An objective observer would scratch his or her head in astonishment and disbelief.

    We are all STILL awaiting to hear when Newsday is going to write a lead headline that it’s unprecedented for Dolan to own/operate two New York arena’s.
    Any day now………………………Tick, tock, tick, tock.

    Of course, part and parcel of the push for the RFP submissions, enabling the County to make a decision this summer (before upcoming election time), is that Nassau/TOH/Legislature/NIFA cannot be humiliated by a closed Nassau Coliseum, and subsequent revenue even if this were to be done beyond the term of Mangano/NIFA members and some legislators.

    Some interesting relevant reading: “It all starts with Al D’Amato” –





    Wang, after “losing” money throughout all the years of owning the team, and spending $20 mil on the proposal alone for his LH project (which everyone should already know that he was to fully fund himself), only to be rejected by TOH/Murray w/o so much as a workable counter-proposal put forth by Murray and her cronies, and after Mangano’s lukewarm, feigned support of a joke of a referendum, he pretty much had no choice but to move the team to Brooklyn.

    The question then is why was Nassau complicit in a charade of misleading misinformation that was selectively made known to the public?
    And for that matter, why bother with even having a referendum take place at all?
    What was the point?
    Why not just come out and NOT choose to knowingly lie by omission?
    Seems like all a big facade.
    It seems plausible, and most likely probable, that Nassau County knew all along that they truly did not have serious intentions of dealing with Wang to find a workable arrangement, otherwise they could have found a way to come up with something. In a nutshell, with Dolan telling Mangano “we want the Coliseum” years ago, Nassau was going ahead with this RFP even if Isles did not announce a move to Brooklyn and were likely going to kick the Isles out in 2015 regardless of what they decided.

    Nevertheless, it is well known that Dolan is a manipulative, arrogant, greedy, spoiled brat, who doesn’t like it when someone says something that goes against what he wants, just like a crybaby. Watch – since this is an election year for Mangano, and since Dolan controls the flow of info on LI by ownership of Newsday and Cablevision (News 12), don’t be surprised if Mangano (in what would easily be equated to being in HIS self-serving best interests) were to unfortunately but not coincidentally select the MSG bid. Gee, that would not be a surprise if it were to play out that way. Politics as usual. And that is somehow supposed to be considered as NOT a conflict of interest for Nassau County residents/taxpayers?
    If Mangano does select MSG, one can only hope that ultimately the Nassau legislators have the foresight and fortitude to not be ethically challenged and/or morally corrupt to allow any attempt of behind the scenes shenanigans of under the table or behind the scenes deals sway their vote. But I’m not getting my hopes up as that may be only wishful thinking. We’ll see…….

  3. Also, the fact still remains that if these developers are now, all of a sudden, able to put forth proposals and bids AFTER the Isles have decided to leave, the valid questions STILL remain unanswered regarding WHY weren’t they somehow able to put forth bids previously BEFORE the Isles decided to leave?
    It’s not as if Wang owning the Isles would have prevented Nassau from proceeding with a RFP.
    After all, Wang didn’t own the Coliseum then or now, so what the hell was preventing Mangano to act upon considering taking open bids sooner?

    And why is it that the media doesn’t seem to feel compelled to make it a point to highlight and focus on that to keep it in the forefront, as if it weren’t important or relevant, when in fact it STILL is a open issue that needs to be addressed, regardless of the fact that the Isles are moving.

    Hmmmm…….. something smells fishy.

    I’m sure it has nothing to do with Dolan wanting to get his hands on the Coliseum, and that he controls the flow of info on LI, on top of it being an election year.

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