Sunday, May 03, 2009

NHL Commissioner says Nets should play in Newark

Missed this one, from Newsday's Islanders blog April 24:
[NHL Commissioner Gary] Bettman also was asked about the possibility of the NBA's New Jersey Nets moving from the Izod Center at the Meadowlands to join the Devils at the Prudential Center in downtown Newark. NBA commissioner David Stern told APSE the Nets are fine where they are, but Bettman had a different view.

"I don't understand why the Nets aren't playing at Prudential Center now," the NHL commissioner said. "The Devils are drawing, and the atmosphere is great. It has to be costing the State of New Jersey a boatload of money to keep [Izod Center] open. I hope, at some point, the Nets decide to go there."


Helping owners

On the NetsDaily blog, Brooklyn move supporter NetIncome comments:
It’s all about helping owners. Stern knows the Nets’ owners would benefit from owning their own arena in Brooklyn and Bettman knows the Devils’ owners could use a tenant to shore up their finances.

True enough, given that the value of the Nets franchise has gone down but likely would go up significantly.

The difference

But there's one big difference: the Prudential Center has already been built. The construction of the Barclays Center would be subsidized by federal taxpayers by well over $100 million. (I've estimated $165 million, but all numbers are in flux.)

Is that wise federal policy now?

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