Wednesday, January 14, 2009

Yormark scotches Newark report, says arena will start this year

A day after reporting that the New Jersey Nets were planning to play three of four preseason games at the Prudential Center in Newark, the Star-Ledger reports that Nets CEO Brett Yormark says that isn't so, but the Nassau Coliseum--a "great feeder market" for Brooklyn, the team's destination, remain an option.

The newspaper reports:
Yormark would not discuss the financial drawbacks that submarined the discussions with [New Jersey Devils owner Jeff] Vanderbeek, but several Nets officials -- who cannot be identified, as they aren't authorized to speak for the team -- claim that a preseason game at The Rock wouldn't generate the same revenue they derive from one at Izod Center.

Brooklyn deadline

The article concludes:
Delayed repeatedly by legal challenges and financing issues, the construction of the $1 billion Barclays Center is scheduled to start sometime this year, Yormark has said, but no groundbreaking date has been set.

Since the average construction of an arena takes 30 months -- according to the estimate of Nets owner Bruce Ratner -- it will be difficult to open the 2011-12 season in Brooklyn if work doesn't begin by this May.


Yormark has said it would take 24 months. Ratner said last June that "it will be about two and a half years to build our arena." I think the construction schedule indicates 32 months.

Whatever arena proponents say, work beginning by May is highly unlikely--it implies not only clearing of lawsuits but no delays in exercising eminent domain. Thus 2012 is a more likely best-case scenario.

2 comments:

  1. This is yet another example of woeful mismanagement and a mentality that its Brooklyn or bust for the Nets. Its not going to happen. You wonder if this is posturing, grandstanding, or really done for good and Newark is out of it?

    I think the Nets not going to the Rock is a BIG mistake. What does your gut say, Norman on this? Is Newark really dead as Yormark says or is this just part of a negotiating ploy to get a better deal?

    ReplyDelete
  2. long island.

    return to sender.

    ReplyDelete