YANKEENETS MAKE CHANGES TO PLANS FOR ARENA IN NEWARK

          Hoping it will be "palatable to government officials
     and taxpayers," and will "advance stalled negotiations,"
     YankeeNets are "offering a revamped plan" for a $325M arena
     for the Nets and Devils in downtown Newark, according to
     Richard Sandomir of the N.Y. TIMES.  YankeeNets have been
     "trying to persuade" NJ Gov. Christine Whitman to increase a
     $75M commitment for the arena's "infrastructure needs." 
     Sandomir: "Now the YankeeNets are seeking an alternative:
     first, take the [$100M] in hard money from the state off the
     table.  Second, use 80 percent of the state and local taxes
     generated by arena activity to pay off bonds that would be
     issued by the state and Essex County, but would be
     guaranteed by the arena and the teams" (N.Y. TIMES, 12/22).