With the Nets and Devils "pining to move their teams
out of the Meadowlands," the NJ Sports & Exposition
Authority (NJSEA) on Tuesday presented a $400M plan "it
hopes will persuade the teams to stay where they are,"
according to Most & Lavelle of the Bergen RECORD. The
proposal calls for building a 19,136-seat arena next to
Giants Stadium, demolishing Continental Arena and building a
sports, entertainment, retail and restaurant complex in its
place. The project's funding "would come from private
investors." The proposal comes after Devils Owner John
McMullen presented his own arena plan for Hoboken, while the
Nets offered a new project in Newark. But Pete McDonough, a
spokesperson for NJ Gov. Christie Whitman, said, "This one
sets the bar. It's got all the financial details associated
with it." The new arena would have 88-100 suites and 2,666
club seats (Bergen RECORD, 3/17). In Newark, Guy Sterling
reports that the plan, which also calls for a renovation of
Giants Stadium, will "be a tough sell to the owners from
both teams." McMullen: "My feeling is, I just don't see the
future of the sports authority. There's so much going on, I
think they've addressed their problems too late." But Nets
President Michael Rowe said, "At first look, it's an
exciting project and we'll keep an open mind about it"
(Newark STAR-LEDGER, 3/17). NJSEA President Dennis Robinson
said that even if both teams leave the Meadowlands, the
NJSEA would "still demolish" Continental Arena and develop
the retail complex (N.Y. TIMES, 3/17).
OH JOY, OH RAPTOR! Nets execs visited Toronto's Air
Canada Centre last night for tours and meetings with the new
building's officials (Newark STAR-LEDGER, 3/17).
