AFJF Posted March 22, 2007 Share Posted March 22, 2007 Stadium in NJ will cost more BY BOB GLAUBER bob.glauber@newsday.com; Staff writer Tom Rock contributed to this story March 22, 2007 With the price tag for a Jets-Giants stadium at the Meadowlands climbing by the day, both teams await a decision next week that could determine when the venture can proceed. Or even if it can. NFL owners are expected to vote next week on a financing proposal that will exceed the league's limits on debt that teams constructing stadiums are allowed to carry. If the measure is rejected, one person with intimate knowledge of the situation said the project could be scuttled. "Yes, there is a chance that the whole deal is in peril if the owners don't vote to give an acceptable waiver on the debt ceiling," the person told Newsday yesterday. The vote will take place when owners gather in Phoenix for their annual spring meetings Sunday through Wednesday. Another person familiar with the project insisted there is no panic heading into the vote. "The sense is that this is an intelligent way to do the financing, and once it is laid out for the owners, they'll recognize that and approve it," the source said. Officials from the Giants and Jets declined comment yesterday. The cost of the proposed 82,000-seat stadium is $1.6 billion, according to a person with knowledge of the project. That's significantly higher than previous estimates; both teams initially hoped that the project would cost no more than $1 billion. The cost of the project is being privately financed. League owners recently approved $300 million in loans to the Jets and Giants as part of the NFL's G-3 program for stadium construction. But the remainder of the construction costs - $1.3 billion - would be financed equally by both teams. Now comes the tricky part: League rules allow a waiver of the debt ceiling of $150 million per team for up to 15 years if a club is financing stadium construction. But because of the unprecedented cost of the Jets-Giants stadium, which would be the most expensive in league history, the teams will request a waiver of nearly twice that time period. If enough owners resist extending the debt period for that long, the Giants and Jets might have to scale back construction plans or, in a worst-case scenario, call off the plan until a suitable alternative can be found. Staff writer Tom Rock contributed to this story. Link to comment Share on other sites More sharing options...
Green DNA Posted March 22, 2007 Share Posted March 22, 2007 In related news, the Jets are starting to build condo's on the Florham Park training camp site that they recently purchased. Link to comment Share on other sites More sharing options...
AfterBurner10 Posted March 22, 2007 Share Posted March 22, 2007 If these plans fall through I think they should build a stadium out in Suffolk County on the the old Pilgrim Psychiatic Hospital Site in Brentwood. Ok I know your reatcion, to far from the city, BUT with Citi Field taking over the Shea Stdium site where else in the city can you build a football stadium? Also, the majority of Jets fans are from LI and the Pilgram site its only about 30 miutes from Queens, and 20 minutes from central Nassau county. The property is close to the LIE and is large enough to suport a stadium project. It also allow plenty of space for tailgating which at the WS Stadium would have happned. Here is the local on the map, zoom in to see the property; http://maps.google.com/maps?hl=en&safe=active&q=Pilgrim%20Psychiatric%20Hospital%2C%20Brentwood%20NY&ie=UTF-8&oe=UTF-8&um=1&sa=N&tab=wl Link to comment Share on other sites More sharing options...
faba Posted March 22, 2007 Share Posted March 22, 2007 Anyone want to rent out their backyard for a game of football? Link to comment Share on other sites More sharing options...
johnny green balls Posted March 22, 2007 Share Posted March 22, 2007 is there ever a construction project that is one time or doesn't exceed the estimate? i mean come on. what a ripoff. Link to comment Share on other sites More sharing options...
shawn306 Posted March 22, 2007 Share Posted March 22, 2007 This though is getting ridiculous. I mean they haven't even broken ground yet and the price is already over 1 billion. If and when they finish costs will probably be over 2 billion. sounds like alot you are going to be footing the bill with PSL's. Link to comment Share on other sites More sharing options...
faba Posted March 22, 2007 Share Posted March 22, 2007 Anyone knows with construction costs- the longer and longer delays the higher the price tag keeps going up. Link to comment Share on other sites More sharing options...
L.I.MikeBleedsGreen Posted March 22, 2007 Share Posted March 22, 2007 If these plans fall through I think they should build a stadium out in Suffolk County on the the old Pilgrim Psychiatic Hospital Site it in Brentwood. Ok I know your reatcion, to far from the city, BUT with Citi Field taking over the Shea Stdium site where else in the city can you build a football stadium? Also, the majority of Jets fans are from LI and the Pilgram site its only about 30 miutes from Queens, and 20 minutes from central Nassau county. The property is close to the LIE and is large enough to suport a stadium project. It also allow plenty of space for tailgating which at the WS Stadium would have happned. Here is the local on the map, zoom in to see the property; http://maps.google.com/maps?hl=en&safe=active&q=Pilgrim%20Psychiatric%20Hospital%2C%20Brentwood%20NY&ie=UTF-8&oe=UTF-8&um=1&sa=N&tab=wl Yeah Baby Bring the Jets where they Belong L.I. my home town ,Brentwood is a great place for a Stadium IMO. Plenty of room and space for parking ,Tailgating...etc. As a kid that place gave me the creeps ,but it was fun getting chased out of there with my friends.The fake police would always chase us ,Man the good ole days eh. P.S. Spare us all the Negitive posts about Brentwood ,I know how some of you guys feel about it. But it is an up grade from the Toxic Dump. Link to comment Share on other sites More sharing options...
SouthernJet Posted March 22, 2007 Share Posted March 22, 2007 I hear the recent US Government crackdown on illegal immigration has effected these big construction projects. It is forcing the construction companies to say adios muchacho to the illegals they have on board and hire US workers who are for some reason asking for a decent wage. Imagine the nerve. Hence, the cost is being passed on to the team. Link to comment Share on other sites More sharing options...
oktaren Posted March 22, 2007 Share Posted March 22, 2007 I hear the recent US Government crackdown on illegal immigration has effected these big construction projects. It is forcing the construction companies to say adios muchacho to the illegals they have on board and hire US workers who are for some reason asking for a decent wage. Imagine the nerve. Hence, the cost is being passed on to the team. does make sense. Link to comment Share on other sites More sharing options...
Maxman Posted March 22, 2007 Share Posted March 22, 2007 Dear Woody, If you build it we are done. Signed, The Non-PSL Paying Fans Link to comment Share on other sites More sharing options...
SouthernJet Posted March 22, 2007 Share Posted March 22, 2007 Dear Woody, If you build it we are done. Signed, The Non-PSL Paying Fans hahaha,, in other words,, the working class Link to comment Share on other sites More sharing options...
wildthing2022000 Posted March 22, 2007 Share Posted March 22, 2007 Dear Woody, If you build it we are done. Signed, The Non-PSL Paying Fans No matter where the new stadium is there will be a PSL, besides why else would they ask for a extension on paying the league back? Link to comment Share on other sites More sharing options...
BaumerJet Posted March 22, 2007 Share Posted March 22, 2007 Dear Woody, If you build it we are done. Signed, The Non-PSL Paying Fans I'm on that payroll as well Max - I'll be able to afford trips to Brazil on a By-yearly basis when I do not have the ability buy tickets anymore. If the NFL & Roger Goodell authorized the initial loans for each team of $150 million - AN NFL 1ST - the NFL will agree on the 30 year payoff! This stadium is being built - Just how it effects the Season Ticket Holders, that's just the beginning... PSL's are inevitable! Also; the JETS did began building the housing for players at the new Florham park facility. I should have pictures here & on my site by Monday... Link to comment Share on other sites More sharing options...
BaumerJet Posted March 22, 2007 Share Posted March 22, 2007 Yeah Baby Bring the Jets where they Belong L.I. my home town ,Brentwood is a great place for a Stadium IMO. Plenty of room and space for parking ,Tailgating...etc. As a kid that place gave me the creeps ,but it was fun getting chased out of there with my friends.The fake police would always chase us ,Man the good ole days eh. P.S. Spare us all the Negitive posts about Brentwood ,I know how some of you guys feel about it. But it is an up grade from the Toxic Dump. Give it up L.I.MikeBleedsGreen - Too much invested by the state, NFL & both teams for this not to remain in NJ! If the Giants were not also involved, I would agree with you on a move but too much is at stake for both teams - THIS WILL PASS & THEY WILL BREAK GROUND THIS JUNE! Link to comment Share on other sites More sharing options...
OneEyedWonder Posted March 23, 2007 Share Posted March 23, 2007 NEW APPROACH TO NAMING RIGHTS The Jets and the Giants will divide naming rights for their new stadium into five pieces to make the price more appealing to potential buyers, Jay Cross, the Jets Link to comment Share on other sites More sharing options...
Green DNA Posted March 23, 2007 Share Posted March 23, 2007 And why do Jets fans from Long Island still believe that the majority of Jets fans are on Long Island. The Jets playing in New Jersey is not something that is new, they've been doing it for over 20 years. Walk around the parking lot on game day and tell me the majority of license plates you see. It's arguable that there is at least, if not more, of a fan base in NJ than LI. We need to get over this Jets=Long Island thing. Just because they practice at Hofstra doesn't make them tied to the area. While there are undoubtedly a lot of Jets fans in New Jersey, the fans are split between the Jets and the Giants. You will find that in Queens and Long Island, that the fans are overwhelmingly Jets rooters because that was their local team from inception just as the Mets are. The reason that you see more NJ license plates in the parking lots is because you are in NJ and it ids no ttoo difficult to get to the games. It is a pain in the ass to drive over 2 bridges or through 2 tunnels and it becomes a grind. I know of a good number fo Jets fans on Long Island that gave up their tickets because the game day commute was too much of a hassle. I think people on Long Island still feel a strong connection to the team because at least they still practice at Hofstra (temporarily). Link to comment Share on other sites More sharing options...
OneEyedWonder Posted March 23, 2007 Share Posted March 23, 2007 While there are undoubtedly a lot of Jets fans in New Jersey, the fans are split between the Jets and the Giants. You will find that in Queens and Long Island, that the fans are overwhelmingly Jets rooters because that was their local team from inception just as the Mets are. The reason that you see more NJ license plates in the parking lots is because you are in NJ and it ids no ttoo difficult to get to the games. It is a pain in the ass to drive over 2 bridges or through 2 tunnels and it becomes a grind. I know of a good number fo Jets fans on Long Island that gave up their tickets because the game day commute was too much of a hassle. I think people on Long Island still feel a strong connection to the team because at least they still practice at Hofstra (temporarily). I never argued the fact that from inception the Jets were predominantly a Long Island team, but they've been playing at the Meadowlands now longer than they played at Shea. My wife is from Long Island, and we know plenty of Giants fans that live out there. I just don't think the numbers are that heavy towards the LI side any longer. Link to comment Share on other sites More sharing options...
The Gun Of Bavaria Posted March 23, 2007 Share Posted March 23, 2007 There's plenty of open land in Detroit and you can pay American Citizens minimum wage and it would be a step up around here. I say move the team to Detroit. Link to comment Share on other sites More sharing options...
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