Field of Schemes
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September 18, 2009

NY state approves downgrading Nets arena from platinum-plated to gold-plated

New York state's Empire State Development Corporation signed off on Bruce Ratner's revised Brooklyn Nets arena plan yesterday, something that's been a foregone conclusion for at least two months now. It is noteworthy, though, for prompting this Reuters headline:

NY agency OKs modest basketball arena plan for Nets

This is no doubt the first time in human history that a basketball arena costing between $800 and $900 million — which would still easily break the record as the most expensive ever — has been described as "modest."

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