On Long Island, Jim Baumbach noted the Islanders’ $1.3B arena and entertainment plan "received its final municipal approval," clearing the way for the developers to "potentially begin construction at Belmont in a matter of weeks." The Franchise Oversight Board was the final state board that "needed to officially sign off on the project before the developers can move forward toward a groundbreaking ceremony." An official groundbreaking is "expected to take place next month" (NEWSDAY, 8/15).
WAIT A MINUTE: A San Jose MERCURY NEWS editorial stated that the Alameda County supervisors "should abandon their plans to sell half-ownership" of RingCentral Coliseum to the A’s and instead "return to the bargaining table with the city." The tentative agreement between the county and the A’s would be a "sweetheart deal for the A’s at county taxpayer expense." It would give the team half-ownership "without having to competitively bid for it." It would also "undermine the city of Oakland, which owns the other half-interest in the Coliseum property." The city would be "unable to determine the best use of the property for the benefit of residents and taxpayers because it would need the cooperation of a team with self-serving interests" (San Jose MERCURY NEWS, 8/13).
SPREAD THE WEALTH: In California, Jody Meacham noted San Jose State's Event Center, which seats 5,000 for basketball games, will be "renamed the Provident Credit Union Event Center." Provident "bought the naming rights for the next 20 years" for $8.1M. The money will be used for "improvements and maintenance of the facility, which is also used for other sports and community events" (BIZJOURNALS.com, 8/14).
