SBD/Issue 238/NFL Season Preview

Giants, Jets Unveil Plans For New Shared Stadium

Giants, Jets Unveil Design Plans For New Stadium
The Giants and Jets unveiled design plans for their $1.3B shared football stadium during a groundbreaking ceremony yesterday, and in addition to football, the NJSEA said that the facility will host 80 other events annually.  The number of access roads will “nearly triple, from 16 to more than 40, and there will be 27,500 parking spaces.” New Jersey Gov. Jon Corzine indicated that "the privately funded stadium will end up costing taxpayers more than $300[M]."  The public investment includes the cost of a new rail line to the stadium, road improvements and other upgrades. Corzine said that in return, the state gains "12,000 part- and full-time jobs during construction, as well as 500 permanent jobs, practice facilities and a ‘magnet’ for the Xanadu retail and entertainment complex” (Newark STAR-LEDGER, 9/6). 

REVENUE DRIVERS: Giants co-Owner John Mara "said he'd like to have [naming rights] settled by some time" in '08.  In Westchester, Ernie Palladino notes the teams "hope to get more than" the $20M annually over 20 years the Mets got from Citigroup for Citi Field (JOURNAL NEWS, 9/6).  Giants and Jets officials said that they had "not determined ticket prices for the new stadium or whether the teams would charge" a PSL.  Mara noted each team will make its own decision on PSLs, adding, "I've always wanted to avoid it, but we just haven't decided yet."  Asked whether a naming rights deal might take the pressure off the teams to charge PSLs, Jets President Jay Cross said, "I think if you're a season ticket holder, you'll have to recognize that this is the most expensive stadium ever built and the largest financing ever undertaken. So everything we do is to help to mitigate the high costs" (Bergen RECORD, 9/6).

THE GREENS AND BLUES: In N.Y., Singer & Sanderson note the 82,500-seat stadium will feature a “great wall” with 400-foot-long-by-40-foot-high panels that will be blue for Giants’ home games and green for Jets’ home games. Giants Chair & Exec VP Steve Tisch: “You will definitely know which team is the home team.” The parking area will include a 300,000-square-foot tailgating plaza with food and drink concessions, rest rooms and pregame entertainment areas. The two main concourses will feature team stores and “themed activities” for sponsors. There will be about 200 skyboxes, and open-air seating will be offered on three levels. Front-row seats will be just 46 feet from the sidelines, and a field club between the 40-yard line will offer “even closer views.” The stadium will also have four jumbo video screens measuring 40 feet tall by 130 feet wide that will function as scoreboards, while an additional dozen 16-by-9-foot screens will be spread around the concourses and the outside plaza and 2,500 HD displays will be spread around the rest of the stadium (N.Y. POST, 9/6).

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