Battle In New Jersey Over Izod, Prudential Centers Continues
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New Jersey Lawmaker Asking To Review
Prudential Center Financial Records |
New Jersey State Sen. Paul Sarlo yesterday "accused Newark of making a 'sweetheart deal' with the Prudential Center developers and asked to review the venue's lease and financial records," according to Maura McDermott of the Newark STAR-LEDGER. Sarlo yesterday wrote the city of Newark and its housing authority "demanding copies of the Prudential Center's records." The action came after Essex County Exec Joe DiVincenzo called for the Izod Center to "close so the [Prudential Center] will have a better shot at succeeding." DiVincenzo said that he has planned a meeting tomorrow with a group of Essex County politicians "to form a game plan." Sarlo said in reference to Devils Owner Jeff Vanderbeek, whose team plays at the new Prudential Center: "I'm not going to stand by and destroy a successful state asset to benefit a wealthy private investor. He already has a sweetheart deal in place" (Newark STAR-LEDGER, 2/26). DiVincenzo "disputed assertions" that the Izod Center will be profitable this year. With the Devils moving to the Prudential Center in Newark and the Nets planning to move to Brooklyn, DiVincenzo said of the Izod Center, "Show me how you're going to be making money while you're losing your key tenants." He added Izod Center "has $77[M] in debt, and it's in bad condition, so it will take millions more to renovate. Who's going to pay for that?" (Bergen RECORD, 2/26). Sarlo said he was "deeply troubled" by Vanderbeek's recent comments about seeking to close the Izod Center. Izod has "claimed the lion's share of concert and family show bookings" since the Prudential Center opened last October (Bergen RECORD, 2/25).
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