posted on Nov, 15 2003 @ 11:24 AM
The New York Jets will reportedly move as part of a plan to build a billion-dollar retractable domed stadium on New York City's west side.
BusinessWeek magazine claim that the team are expected to unveil their plans for the new Ł600million stadium in the next two months.
According to the magazine, Jets owner Robert 'Woody' Johnson IV - the heir to the Johnson & Johnson fortune - will pay for most of the project, with
taxpayers assuming the cost of transportation upgrades.
The NFL would provide some financing through their stadium construction loan programme.
The stadium is planned for an area between Penn Station and the Hudson River which currently houses railroad yards.