Saturday, October 13, 2007

The "blighted" Meadowlands arena--and the Nets to Newark?

The Oct. 11-17 issue of Time Out New York concerns Sights and Blights. The examples in the Sports section are not (apparently) online, but the three Sights are Gaelic Park in the Bronx, KeySpan Park in Coney Island, and the USTA Billie Jean King National Tennis Center.

The three Blights are Shea Stadium in Flushing (to be replaced), Madison Square Garden, and Continental Airlines Arena, about which Time Out observes, "This is just one reason we're thankful the Nets are moving to Brooklyn in a few years. Jersey can keep it."

(The Continental Airlines Arena will soon be called the Izod Center.)

Nets to Newark?

Of course, Jersey is about to get its own arena in about two weeks, when the Prudential Center opens in Newark, assuming all the security concerns are resolved.

And some in Newark do embrace the Nets. (Photo taken in Downtown Newark by Jonathan Barkey)

Crain's New York Business reported in March that the Nets might move to Newark for the interim, while the arena is being constructed (or on hold) in Brooklyn. And I pointed out that the plethora of luxury suites made Newark attractive.

A penalty worth paying?

If the Nets were to move to Newark after this season, they'd face a penalty of $12.1 million, the Bergen Record reported last year, and the penalty would drop each year--a move in 2009 would cost the team $9.8 million, and one in 2013 would cost $2.6 million. Given the increased revenue from suites, sponsorships, and higher attendance, the Nets' brass must be conducting a cost-benefit analysis.

And if an unfavorable ruling in a legal case portends delays even beyond the claimed spring 2008 date to "clear" the lawsuits, the Nets brass surely will be thinking even harder.

1 comment:

  1. Norman, that's something to keep an eye on. Publicly, that's the Nets company line, don't think for one second Jeff Vanderbeek, the Devils owner isn't watching this situation and ditto for David Stern in the league office. If it were up to Vanderbeek, the Nets would be at the Rock already.

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