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Bring Giants to NYSCC?
Bring Giants to NYSCC?
jake
· 2005-01-27
Bring Giants to NYSCC?
http://www.nynewsday.com/news/local/state/ny-bc-nj--giantsstadium0126jan26,0,7106888.story?coll=ny-region-apnewjersey Giants Stadium talks headed in wrong direction By TOM CANAVAN AP Sports Writer January 26, 2005, 10:05 PM EST EAST RUTHERFORD, N.J. -- Prospects for a new Giants Stadium dimmed on Wednesday when the New York Giants and the New Jersey Sports and Exposition Authority slipped farther apart in three fruitless hours of negotiations. "Right now I am not very optimistic," Giants Executive Vice President John Mara said in a telephone interview with The Associated Press on Wednesday evening. No further meetings have been scheduled, Mara said. Wednesday's meeting at Mara's office opened with the state responding to the Giants' latest offer on the proposed 80,000-seat stadium, which would be built adjacent to the existing 28-year-old facility, one of the oldest for NFL teams. While the Giants have offered to pay the entire $700 million construction cost, the two sides are far apart on the team's ability to coexist with the Xanadu retail and entertainment project being planned for the area around Continental Airlines Arena, game day parking arrangements and several other issues, including sharing money from the naming rights. The Xanadu problem continues to be the biggest issue, a source close to the talks told The Associated Press after the meeting, speaking on condition of anonymity. The Giants have exclusive rights to use the sports complex on game days, and they feel that opening Xanadu on game days would make the parking situation intolerable for their fans. Plans for the Xanadu project call for building nearly 5 million square feet of retail, entertainment and office space on top of about 4,000 existing surface parking spaces. The two sides also are still trying to work out agreements on the amount of land the Giants want and the rent they will pay. The Giants have asked for 75 to 100 acres for the stadium, a practice field, corporate offices, a team hall of fame and retail projects such as a hotel, the source said. The team currently occupies 33 acres of the 400-acre facility. The sports authority's land offer was about 50 to 75 acres, the source said. The Giants have offered to pay $4.8 million in rent and another $1.5 million in PILOT fees, payments in lieu of taxes. The state is looking for more than $6 million in rent plus PILOT fees, said a source close to the state. The two sides also are far apart concerning game-day parking during construction, particularly if the Giants get more land on the Meadowlands property to develop. The sports authority currently guarantees 24,000 parking spots at the arena and stadium. If the Giants get more land, the sports authority insists it would not be able to park the same amount of cars, nor would it be willing to pay for more parking nearby, such as the Vince Lombardi rest area on the New Jersey Turnpike. Other issues the two sides failed to settle were demolition costs for the old stadium and retention of selected sports authority management if the Giants were to build and operate the stadium. If a new stadium cannot be built, the sports authority agreed nine years ago in a lease extension to provide the Giants with improvements and upgrades to the current stadium that would make it a state of the art NFL building. The New York Jets, who also play home games at Giants Stadium, are pursuing a new stadium on the West Side of Manhattan. The new owner of the New Jersey Nets, who play at Continental Airlines Arena, plans to build an arena in Brooklyn, N.Y., and the New Jersey Devils are planning a move to new arena in downtown Newark. Copyright © 2005, The Associated Press By visiting this site you agree to the terms of the Newsday.com User Agreement. Copyright © Newsday, Inc. Produced by Newsday Electronic Publishing. http://www.nynewsday.com/news/local/state/ny-bc-nj--giantsstadium0126jan26,0,7106888.story?coll=ny-region-apnewjersey
http://www.nynewsday.com/news/local/state/ny-bc-nj--giantsstadium0126jan26,0,7106888.story?coll=ny-region-apnewjersey
jake · 2005-01-27
http://www.nynewsday.com/news/local/state/ny-bc-nj--giantsstadium0126jan26,0,7106888.story?coll=ny-region-apnewjersey Giants Stadium talks headed in wrong direction By TOM CANAVAN AP Sports Writer January 26, 2005, 10:05 PM EST EAST RUTHERFORD, N.J. -- Prospects for a new Giants Stadium dimmed on Wednesday when the New York Giants and the New Jersey Sports and Exposition Authority slipped farther apart in three fruitless hours of negotiations. "Right now I am not very optimistic," Giants Executive Vice President John Mara said in a telephone interview with The Associated Press on Wednesday evening. No further meetings have been scheduled, Mara said. Wednesday's meeting at Mara's office opened with the state responding to the Giants' latest offer on the proposed 80,000-seat stadium, which would be built adjacent to the existing 28-year-old facility, one of the oldest for NFL teams. While the Giants have offered to pay the entire $700 million construction cost, the two sides are far apart on the team's ability to coexist with the Xanadu retail and entertainment project being planned for the area around Continental Airlines Arena, game day parking arrangements and several other issues, including sharing money from the naming rights. The Xanadu problem continues to be the biggest issue, a source close to the talks told The Associated Press after the meeting, speaking on condition of anonymity. The Giants have exclusive rights to use the sports complex on game days, and they feel that opening Xanadu on game days would make the parking situation intolerable for their fans. Plans for the Xanadu project call for building nearly 5 million square feet of retail, entertainment and office space on top of about 4,000 existing surface parking spaces. The two sides also are still trying to work out agreements on the amount of land the Giants want and the rent they will pay. The Giants have asked for 75 to 100 acres for the stadium, a practice field, corporate offices, a team hall of fame and retail projects such as a hotel, the source said. The team currently occupies 33 acres of the 400-acre facility. The sports authority's land offer was about 50 to 75 acres, the source said. The Giants have offered to pay $4.8 million in rent and another $1.5 million in PILOT fees, payments in lieu of taxes. The state is looking for more than $6 million in rent plus PILOT fees, said a source close to the state. The two sides also are far apart concerning game-day parking during construction, particularly if the Giants get more land on the Meadowlands property to develop. The sports authority currently guarantees 24,000 parking spots at the arena and stadium. If the Giants get more land, the sports authority insists it would not be able to park the same amount of cars, nor would it be willing to pay for more parking nearby, such as the Vince Lombardi rest area on the New Jersey Turnpike. Other issues the two sides failed to settle were demolition costs for the old stadium and retention of selected sports authority management if the Giants were to build and operate the stadium. If a new stadium cannot be built, the sports authority agreed nine years ago in a lease extension to provide the Giants with improvements and upgrades to the current stadium that would make it a state of the art NFL building. The New York Jets, who also play home games at Giants Stadium, are pursuing a new stadium on the West Side of Manhattan. The new owner of the New Jersey Nets, who play at Continental Airlines Arena, plans to build an arena in Brooklyn, N.Y., and the New Jersey Devils are planning a move to new arena in downtown Newark. Copyright © 2005, The Associated Press By visiting this site you agree to the terms of the Newsday.com User Agreement. Copyright © Newsday, Inc. Produced by Newsday Electronic Publishing. http://www.nynewsday.com/news/local/state/ny-bc-nj--giantsstadium0126jan26,0,7106888.story?coll=ny-region-apnewjerseyBring Giants to NYSCC?
http://www.nynewsday.com/news/local/state/ny-bc-nj--giantsstadium0126jan26,0,7106888.story?coll=ny-region-apnewjersey