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06-23-2009, 12:33 PM #1
Deal for Nets' arena site reached
NEW YORK -- The owner of the New Jersey Nets will get a 22-year delay on paying the full $100 million for the right to build a new arena in Brooklyn under a deal made public Monday.
Developer Bruce Ratner, the Nets' principal owner, will pay the Metropolitan Transportation Authority $20 million up front and another $80 million in installments under the plan, which the full MTA board will vote on Wednesday. He had originally agreed to pay the MTA $100 million upon closing for development rights to rail yards it owns.
http://sports.espn.go.com/nba/news/story?id=4279197
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06-23-2009, 02:30 PM #2
Boooooooooooooooooooooooooooo! Prudential center ftw!
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06-23-2009, 04:46 PM #3
22 year delay? Wow, that's a lengthy bit of time! But, it just means that NJ taxpayers will be paying for the next 22 years...lol
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