http://www.nydailynews.com/sports/f...nts_close_13b_financing_for_new_.html?ref=rss The New York Jets and Giants football teams completed a $1.3 billion financing agreement to build an 84,000-seat stadium in East Rutherford, New Jersey. The Jets borrowed $650 million from Goldman Sachs Group Inc. and Lehman Brothers Holdings Inc., while the Giants got the same amount from Citigroup Inc. and the Royal Bank of Canada, Jets President Jay Cross said in an interview. The facility will be constructed near Giants Stadium, the National Football League teams' current home, and is scheduled to open in 2010. The teams agreed to split the cost after the Jets failed to secure approval for a stadium on Manhattan's West Side. Guess that settles that small detail but where's the stadium design?
Thats What I want to know, they have started to make way for the Stadium and have the financing but still no Designs. Usually you get designs (like the WSS) ages before everything else is finalised. It would be nice to get excited about it.
If all season ticket holders 75,000 each team pay $8,666 each then maybe they could have tickets priced below $45, both teams know in order to spring the surprises on season ticket holders after 4 years of parking nightmares, the product on the field better be worth the 2nd mortgage... If the NFL had the SB in the teams stadium that won a coin toss after the divisional championships and the SB didn't have more smoke and mirrors than a Kiss show, sorry just ranting
Usually you get designs (like the WSS) ages before everything else is finalised. It would be nice to get excited about it.[/QUOTE] I read somewhere a month or so back that the Jets and Giants had significant disagreements on design and that is why no design has been finalized.
That's right. The Jets want to hang a NYJets sign from the side of the stadium and the Giants want to hang Coughlin from the side of the stadium. They'll manage to find a middle road.
Im all for a new stadium but i just dont agree with sharing one with the giants and the location. I grew up in queens and strongly beleive that a JETS STADIUM belongs in either long island or somewhere in queens. not in the swamp lands of jersey. i live in staten island now so its a bit easier for me to get to the swamp but i feel the team should be were their strongest fan base is. Oh and dont get me started on PSL i cant wait to hear how much their gonna want me to pay in the upper endzone.
LOL I am surprised they got the financing right now. Almost all lenders I am aware of in the credit markets have either tightened their lending parameters to such extreme levels, stopped lending period or have upped the credit spreads to ridiculous levels making it much less profitable for many business's. It looks like it is going to get much worse before it gets better too. They better get those agreements signed and rates locked. Even then many lending firms are reneging or making debt covenants that are much more restrictive. BTW I am of the opinion that Woody should have financed a stadium in New York. There are plenty of sites that could have made this happen. I hope the f-er chokes on the loan rates for a few years before they refinance.
