BaumerJet Posted March 9, 2006 Share Posted March 9, 2006 Giants, Jets face double rent Officials are re-evaluating agreement on a new Meadowlands stadium Thursday, March 09, 2006 BY MATTHEW FUTTERMAN Star-Ledger Staff State officials say they want to double the amount of money the Jets and Giants will pay New Jersey each year to build a stadium in the Meadowlands and may try to eliminate the state's planned $30million contribution to the project. Those positions represent a substantial departure from an agreement former Gov. Richard Codey reached with the football teams last year and could ultimately jeopardize the project. Carl Goldberg, chairman of the New Jersey Sports and Exposition Authority, and George Zoffinger, the agency's chief executive, outlined the new stance during a meeting with The Star-Ledger's editorial board Tuesday. Goldberg and Zoffinger said that given the state's $5billion budget shortfall, Gov. Jon Corzine is right to re-evaluate last year's "memorandum of understanding," or MOU, with the Jets and Giants as the two sides attempt to reach a final development agreement on the project. Under the MOU, the state is to receive $5million a year in rent. On Tuesday, Zoffinger said state officials now believe the teams should pay twice that amount. "It doesn't make sense that the teams are going to make, according to their own calculations, $185million on this stadium and the state gets $5million," he said. Zoffinger later said a combined payment of $8million might be acceptable. Goldberg, meanwhile, said he was considering trying to negotiate away the state's $30million obligation to improve the infrastructure of the sports complex. "It would take me five minutes to renegotiate and remove the $30million," Goldberg said. "They are spending nearly $1billion. At that level, $30million becomes a rounding error." Until now, the football teams have said they were open to minor adjustments in the MOU, but believe the state should stick by the deal Codey made last year. If the two sides can't finalize a deal, the Giants can force the state to spend an estimated $350million to renovate the current stadium. Yesterday, Alice McGillion, a spokesman for the Jets and Giants stadium venture, made it clear that without a deal for a new stadium, the state would be on the hook for a very expensive renovation of the teams' current home. "Not only is the new stadium agreement a win for taxpayers, it also places the NJSEA in a much better position than the status quo," McGillion said. "The agreement relieves the NJSEA of an obligation to spend as much as $500million for its state-of-the-art obligation, provides for $1billion of private investment and generates $35million in annual tax revenue." Last year's deal, reached initially with the Giants in April and then extended to the Jets in September, called for the tenants of the new stadium to pay $5million each year to lease 75 acres at the Meadowlands Sports Complex. In addition, the teams would make a $1.3million tax payment to East Rutherford and cover the costs of building the $900million stadium. In return, the state agreed to spend $30million to fix roads and utilities to accommodate the new stadium. Zoffinger has insisted for months that the teams were not spending enough money. The argument fell on deaf ears with Codey, for whom a new football stadium was a top priority, but has gained a more sympathetic audience with Corzine. Anthony Coley, a spokesman for Corzine, said the governor wants the teams in New Jersey, but he is evaluating last year's deal and considering changes. "The governor wants to make sure that the interests of the public are served," Coley said. "He has directed our new treasurer, Bradley Abelow, to review the deal to make sure the state is getting the full economic value from the deal." For their part, the teams want to wrap up a deal as soon as possible, break ground early next year, and open the new stadium for the 2010 season. Corzine wants the project to happen, but has been insistent that it include a roof so the stadium could be used for the Super Bowl, the NCAA Final Four, conventions and other major events. A roof would cost an extra $180million, and the teams have expressed little interest in paying for it. Also, they say an open-air stadium gives them a distinct home-field advantage during the second half of their season. http://www.nj.com/news/ledger/jersey/index.ssf?/base/news-2/114188600267860.xml&coll=1&thispage=1 Looks to me like Zoffinger is puting his fingers in our deal again. He wants a dome so the NJSEA can get a piece of the NON-NFL events & for the 1st time I have to agree. If Corzine pushes this too much, I say we force them into the $250 million in upgrades & consider another site a few years from now for a new COMBINED STADIUM! That should let Trenton & the schmuck who was more happy to see ZANADU (Zoffinger) than letting both NFL teams remain in NJ know how much money the state will really lose if they move! Link to comment Share on other sites More sharing options...
Maxman Posted March 9, 2006 Share Posted March 9, 2006 I think the Jets should just stop playing football. It just isn't working out. Sometimes these things happen. Not everything is meant to be. They lose consistently. NY doesn't want them. NJ doesn't want them. The last four coaches all wanted to leave. Seriously let's just call it a day and say that we gave it a try. They can give the franchise a new name and move it to the West Coast. A big giant do-over. The Jets simply put, were not meant to be! Link to comment Share on other sites More sharing options...
Green DNA Posted March 9, 2006 Share Posted March 9, 2006 Seems like a bait and switch by New Jersey. Void the deal and come on home! Link to comment Share on other sites More sharing options...
Bob Posted March 9, 2006 Share Posted March 9, 2006 You can't blame the state for trying not to hose the taxpayers, but there's not a chance in hell that either team is going to take that deal. Billionaires expect welfare, and they get it. Link to comment Share on other sites More sharing options...
Scott Dierking Posted March 9, 2006 Share Posted March 9, 2006 Pennsylvania actually did it pretty well with their teams: 1/3 paid by state 1/3 paid by city 1/3 paid by team Link to comment Share on other sites More sharing options...
spjets Posted March 9, 2006 Share Posted March 9, 2006 corzine is an azz.... Link to comment Share on other sites More sharing options...
raffyD Posted March 9, 2006 Share Posted March 9, 2006 Seems like a bait and switch by New Jersey. Void the deal and come on home! What he said. Seriously, bring the Green and White back to Flushing, which is close to Hofstra, and get the heck out of the swamp/garbage dump that is jersey. Link to comment Share on other sites More sharing options...
MiamiJet Posted March 9, 2006 Share Posted March 9, 2006 Guys, wake me when the Jets actually get their own stadium built. Until then, I'll just go back to sleep. This is tiresome. Link to comment Share on other sites More sharing options...
GREENSMACKS Posted March 9, 2006 Share Posted March 9, 2006 bring em to long island, wipe out the crap in brentwood and build a big stadium Link to comment Share on other sites More sharing options...
faba Posted March 9, 2006 Share Posted March 9, 2006 The Jets and the search for a stadium - the never ending story Link to comment Share on other sites More sharing options...
L.I.MikeBleedsGreen Posted March 9, 2006 Share Posted March 9, 2006 bring em to long island, wipe out the crap in brentwood and build a big stadiumeasy man that's my home town ,what they need to do is wipe out pilgram state and put the stadium there. P.S brentwood is not crap:Nuts: Link to comment Share on other sites More sharing options...
SeniorFlaJet Posted March 9, 2006 Share Posted March 9, 2006 If NJ is complaining about the deal now because they have a 5 billion dollars budget shortfall, the Jets should relocate to Florida. We have 5 billion more than we need this year. Looking for ways to spend it. Plus since I've been down here I think there are more jet fans than Miami fans in Florida or at least dedicated and not fly by night. Build it in central florida to make it accessible for the whole state and it will be filled up every game. Link to comment Share on other sites More sharing options...
L.I.MikeBleedsGreen Posted March 9, 2006 Share Posted March 9, 2006 If NJ is complaining about the deal now because they have a 5 billion dollars budget shortfall, the Jets should relocate to Florida. We have 5 billion more than we need this year. Looking for ways to spend it. Plus since I've been down here I think there are more jet fans than Miami fans in Florida or at least dedicated and not fly by night. Build it in central florida to make it accessible for the whole state and it will be filled up every game. I agree with building in south fla ,i also believe that there are more jet fans here, just so we can get on the dolfags nevers. I'am dedicated brother and i live here now J.E.T.S GO JETS:cheers: Link to comment Share on other sites More sharing options...
Writeguy Posted March 10, 2006 Share Posted March 10, 2006 Guys, wake me when the Jets actually get their own stadium built. Until then, I'll just go back to sleep. This is tiresome. Agreed. Whether it's high school, college, or the pros, having your own stadium makes a difference a the team's success. Hey, the Mets don't play in "Yankee" stadium. Why should the Jets play in "Giants" stadium? Link to comment Share on other sites More sharing options...
BwanaZulia Posted March 10, 2006 Share Posted March 10, 2006 I love it that NJ is now complaining while the truth about the Mets and Yankees stadium has come out that the City and State are going to pay heavily for them. What a turn of events. BZ Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.