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October 25, 2007
10 years in the making, Newark banking on arena to restore image
AP, via Newsday
By David Porter
An article about the opening of the Newark arena covers some history, including this tidbit about Ratner:
The New Jersey Nets, the Devils' co-tenant at Continental Airlines Arena, planned to move to Newark, first by themselves and later as a package with the Devils. That scenario fell apart when the Nets were bought in 2004 by developer Bruce Ratner, who plans to move the NBA team to Brooklyn.
NoLandGrab: If you read this article, keep in mind that Andrew Zimbalist's economic analysis of a Brooklyn arena, commissioned and released by Bruce Ratner, relied upon Newark NOT building a competing facility. That point, and many of the conclusions of the study released in May 2004, are now moot.
Posted by lumi at October 25, 2007 7:06 AM