This is an archived version of a Field of Schemes article. Comments on this page are closed. To find the current version of the article with updated comments, click here.
February 09, 2005
Devils arena moves ahead, Giants not so much
The currently hypothetical New Jersey Devils scored one win last week, striking a deal with the city of Newark to build a $310 million hockey arena that would open in 2007. (I haven't been able to confirm just yet whether a city council vote is still needed to finalize the arena plan.) The city would spend $210 million in public money on the arena, and get back around one-third of its expense in rent payments and shared arena revenues; that may not sound great, but I suppose it's better than some of the alternatives.
(LATE NOTE: Just got word that the Newark council did approve the arena project last October, which snuck under my radar at the time. There's still a pending lawsuit over the city's end run around a public referendum; assuming the city clears that hurdle, arena construction is expected to begin this summer.)
The New York Giants of New Jersey's negotiations with the state sports authority, meanwhile, are going less smoothly, with the team and state still debating such issues as whether the planned Xanadu entertainment complex will be forced to shut on game days to make way for football fans to park. The Giants have said they will seek to sell naming rights to any new stadium, which they expect would pay for about $100 million worth of the stadium's $800 million price tag.
Finally, the New York Post reports that the Yankees are "90% of the way" to finalizing a stadium deal with the New York mayor's office, with the goal of having a Memorandum of Understanding signed before opening day in April. Of course, as the Jets have found out, an MOU with the mayor is no guarantee of legislative approval of funding for a project. (And as Brooklynites have found out, rumors of an imminent MOU and two bucks will get you on the subway.)
Where in Newark do they intend to build this stadium?????
Posted by Jamie on February 9, 2005 05:40 PM
Why was it easier for the Devils to get approval for their arena in Newark, than for the Metrostars to get approval for their stadium in Harrison??
Posted by Bertell Ollman on February 10, 2005 12:35 AM
The Devils arena has been in the works for something like five years, Bertell, so you must have a different definition of "easier" than I do. But props for finding a way to work soccer into the conversation. As for the site, it's a couple of blocks west of Newark-Penn Station - here's a map: http://www.fieldofschemes.com/newarkmap.jpg
Posted by Neil on February 10, 2005 07:34 AM
It's easier because the Devils have won two championships, a hockey arena gets many more dates a year then a soccer stadium and can be used for many more functions, and that there are many more hockey fans then there are soccer fans in the area(And that's with three other teams really close). Also note that tax-payers would be more inclined to go for an NHL team then a MLS team.
Posted by Tyler Nicholson on February 10, 2005 02:25 PM