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Newz Forum: HOCKEY: Devils to get $310M arena in Newark

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posted on Feb, 2 2005 @ 03:12 PM
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The New Jersey Devils plan to sign redevelopment and lease agreements with the city on Wednesday to build a $310 million, 18,000-seat multipurpose arena and entertainment facility to open for the 2007-2008 NHL season.
 

Groundbreaking could occur by spring, Devils president and general manager Lou Lamoriello said Tuesday night. The Devils, who have not played this season because of a lockout, have called the Continental Airlines Arena in East Rutherford home since moving from Colorado for the 1982-83 season. The state's largest city and the Devils have been putting the final touches on the redevelopment and lease agreements for months.

A formal signing by the Devils, the city and its housing authority is planned for Wednesday at Newark City Hall at 1 p.m. Newark is paying up to $210 million for the facility. The Devils will pay $100 million and handle any cost overruns. The city's contribution will come from the proceeds of a lease with the Port Authority of New York and New Jersey on Newark Liberty International Airport property. The Devils' lease with the city would be for 30 years. The team's current lease with the New Jersey Sports and Exposition Authority to play at the Continental Airlines Arena expires after the 2006-07 season.

Under the lease agreement announced this summer, the city will get $2 million a year plus a percentage of luxury box and naming rights revenue from the arena, which will be built at Broad and Market streets just west of the train station. HOK SportsVenueEvent of Kansas City, Mo., will design the inside of the arena. Morris Adjmi Architects of New York will design the outside of the building.

AP NEWS
The Associated Press News Service




posted on Feb, 2 2005 @ 03:39 PM
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They know something we dont?

There's nothing in the near future for the NHL, they've even cut off talks again. Guess they have so much money they dont even know what to do with it.



posted on Feb, 2 2005 @ 07:18 PM
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isn't newark like the armpit of new jersey? would any of the fans have a car left after the game?



posted on Feb, 2 2005 @ 07:21 PM
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Well, if there are no games, there won't be any cars parked there...



posted on Feb, 2 2005 @ 07:22 PM
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that's true, a good way for the fans to save their stereos i guess



posted on Feb, 2 2005 @ 07:27 PM
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Originally posted by toejam
that's true, a good way for the fans to save their stereos i guess


See! The lockout is a conspiarcy by the Hockey elite to prevent the theft of NHL fans car stereos!




posted on Feb, 3 2005 @ 01:04 PM
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Does this show New Jersey are one of the teams that have enough money to stabilise in the NHL?? Im a fan of the Devils and just hope their economic state is healthy



posted on Feb, 3 2005 @ 01:14 PM
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maybe there is hope for the nhl after all! or maybe they're going to switch to the ahl, i guess we'll see what happens!



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