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August 23, 2007
Airline pulling name off Meadowlands arena
AP, via amNY
By Janet Frankston Lorin
The New Jersey Sports and Exposition Authority said Tuesday it is hunting for a new firm to put its name on the Meadowlands arena after being informed by Continental Airlines that it has decided to opt out of its naming rights deal.
NoLandGrab: No surprise here, an arena with one team headed out the door and another seeking a move to Brooklyn doesn't carry a lot of cachét. The NJ Sports and Exposition Authority may want to start cold-calling out of the yellow pages.
Still, they remain hopeful and it's nice to know that the Nets aren't exactly homeless:
Zoffinger said the New Jersey Nets will help in the effort. While the basketball team plans to move to Brooklyn, N.Y., it has signed a lease to play at the Meadowlands until 2012 but can opt out earlier, Zoffinger said.
He said he expects the Meadowlands facility to command a premium price, based on other recent naming rights deals.
Barclays Bank PLC announced in January it would spend as much as $400 million over the next 20 years to put its name on the new pro basketball arena planned as the Nets' future home in Brooklyn. The 18,000-seat facility designed by the architect Frank Gehry will be called The Barclays Center.
Posted by lumi at August 23, 2007 1:05 PM