February 05, 2005
MSG bid worth $350M?
A slight correction to yesterday's story on Cablevision's offer for the proposed Jets stadium site: The Madison Square Garden owners estimate they can deck over the site's rail yards for just $250 million, which would leave the Metropolitan Transportation Authority netting $350 million on the deal - $20 million more than what the MTA has asked the Jets for it.
Also, state assembly speaker Sheldon Silver made another negative statement about the stadium deal yesterday, telling Newsday: "The MTA is under a public and moral obligation to get as much money as possible for that site. If that land is worth $900 million by their own appraisal, it seems to me they should be under an obligation to get 900-some-odd million dollars." Silver is still officially undecided on whether he'll approve or veto the plan when it comes before the state Public Authorities Control Board a week from Wednesday, saying he still wants to see the city's financial plan for raising its $300 million share of the costs. Yeah, you and me both.
