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March 19, 2006

Ratner seeks investors to fund extra costs

Newark Star-Ledger:

Baum declined to comment on the team's losses, but the costs of running the team and getting an arena built in Brooklyn are growing steeper by the month, leading to the need for more cash.
However, the arena project has not received all environmental approvals, and the state and the city still need to approve $200 million in financing to improve roads and utilities near the arena. Decisions on that portion of the project are expected later this year, including a crucial vote by New York's Public Authorities Control Board, the same agency that killed the Jets' plan for a West Side stadium.


Posted by amy at March 19, 2006 10:34 AM