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March 19, 2007
Jets/Giants stadium hits $1.6B
This just in from this week's Sports Business Journal (subscription required): The cost of the planned New Jersey stadium for the New York Jets and Giants has soared by another $200 million to an incredible $1.6 billion, leaving the two teams looking to borrow about $650 million each to finance their shares of the project.
That figure is raising some eyebrows around the NFL, according to SBJ, which reports that "some within the sport are said by one team source to be 'gagging' at the size of the request." NFL teams are typically required to limit team debt to $150 million, though that debt ceiling can be waived for a period of 15 years. It would likely take twice that long for the Jets and Giants to pay off their stadium debt, however, making next week's league vote on the stadium debt plan potentially very, very interesting.
Woody Johnsonscrewed up big time. He could have had a stadium being built in queens by now. By the time they get this darn built it cost 2 billion dollars
Posted by dan on March 19, 2007 07:29 PM
good. A pox on all their houses.........
Posted by Bertell Ollman on March 20, 2007 12:45 PM
Can someone please post the Sports Business Journal article for those of us who don't subscribe to it?
Posted by Dave Brett on March 21, 2007 04:46 PM
Nuh-uh - that'd be copyright infringement...
Posted by Neil on March 21, 2007 05:55 PM
Go to jets insider.com they have the article inone of there posts.
Posted by dan on March 21, 2007 10:05 PM
Hey Woodrow,take this as a sign. There's still time to bring the Jets back to NY we're they belong. It would be better than being 2nd class citizens like they are now. You know that any new stadium shared with the Giants will be considered theirs. How about giving the Jets their identity back!
Posted by Alex on March 27, 2007 08:31 PM
Whenever woody sells the team in another 5 years the jets will be back in new york. This partnership will end up in a divorce.
Posted by dan on March 28, 2007 11:41 AM
I can see Woody wanting to sell the team but when one takes into the cost of the stadium, any prospective price tag will be out of this world. I don't see them ever coming back to New York unless this thing falls apart which doesn't look like that is happening.
Posted by Bill on March 28, 2007 12:37 PM
The jets will be back in ny after 15 years. Under the memorandum of understanding they can leave.Woody wont be the owner of this team for the long haul. Cant wait to see them back in ny.Until then im rooting for the buffalo bills
Posted by dan on March 28, 2007 05:44 PM
Guys you should get used to the NJ Jets settling down for the long hall in NJ. Although their name won’t change with a 650 million dollar debt you’re looking at a minimum of the next 30 years in NJ. Oh by the way there new corporate offices and practice field will be in Florham Park NJ.
Another thing I want to address what some fans says well if they don't play in NY I won’t follow them.
I have been a JETS fan for 35 years living in NJ. I watched them at Shea as well as Giants stadium; you mean to tell me just because there across the river you will follow some other team.
All I have to say to anyone that follows this line of thinking is good rid dins, my friend you’re not a JETS fan.
People from new jersey don't understand the jets have practiced on long island since 1970. Woody johnson promised the fans that they would have there own stadium.Sharing a stadium with your crosstown rival is not exciting. It is like the yankees sharing a stadium with the mets.The giants are a new jersey team .The jets are suppose to be a new york team. The partnership with the giants will end up in a bad marriage.
Posted by dan on April 4, 2007 06:39 PM
As a Giants season ticket holder that now lives in Florida and was from NJ and have had tickets for 30 years I want one of the Jets fans to honestly answer this question... Would you rather pay $50 to park your car in Manhatten and have NO tailgate space or go to the Meadowlands where everyone has a great tailgate?
Posted by Steve on September 4, 2007 09:51 PM
The Giants and the Jets are NOT New York teams, they are New Jersey teams. Since 1976 for the Giants and since 1984 for the Jets, these teams have played their home games in New Jersey, and after their new training and front office facilities are completed, neither team will have any ties whatsoever to New York.
Beacuse they won Super Bowl XLII against the heavily favored New England Patriots, the Giants deserve a ticker tape parade, but it should be held on the streets of East Rutherford, NJ and not on Broadway in Lower Manhattan!
Posted by Anthony Iorizzo on February 5, 2008 07:02 AM
Before I renew my season Jets tickets this year, is there any information on the additional fees season ticket holders will have to pay to keep their seats when when moving to the new stadium? I heard Baltimore ticket holders were charged a $5,000 luxury tax per ticket.
Posted by Bill on March 22, 2008 09:01 AM