August 05, 2003
Giants to sue for stadium renovations
The New York Giants (who actually play in New Jersey) are preparing to sue the New Jersey Sports and Exposition Authority to get $290 million in renovations to Giants Stadium, says team co-owner Robert Tisch. "Our [lease] agreement says that our stadium should be state of the art," Tisch told the New York Times. "We're ready to fund it, but we can't get the governor to move on it." The Giants want to "fund it," however, by gaining full management control of the stadium and using naming-rights money and other revenue streams that would now go to the state. "If he wants to sue, I don't care," replied sports authority president George Zoffinger, who says Tisch's proposed deal would leave the state holding the bag for $160 million in existing stadium debt. "We're not in the business of subsidizing billionaires."
