Judge Rules In Devils' Favor Over Prudential Center Revenue Sharing
The "long feud" between the Devils and the city of Newark may "finally be coming to an end after a Superior Court Judge ruled against the city in their appeal of a recent arbitration decision between the two factions," according to David Giambusso of the Newark STAR-LEDGER. The city and team went to arbitration "on a revenue sharing dispute" over the Prudential Center. In April, three "out-of-state arbitrators ruled largely in favor of the Devils." The most "contentious issue in the arbitration was an annual $2.7 million parking payment the city owes to the team." But in a ruling last month, Judge Dennis Carey "denied the appeal and confirmed the deal set out by the arbitration panel." In the future, any "rent the Devils pay to Newark will be offset by $2.7 million in parking revenue." Currently, the city "owes the team about $600,000" (Newark STAR-LEDGER, 11/21).