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November 19, 2008

Nets CEO Yormark continues to spin: "We're on target" for Brooklyn groundbreaking

Atlantic Yards Report

Norman Oder covers the lovefestinterview between Alexis Glick of Fox Business News and New Jersey Nets CEO Brett Yormark.

Most notable is Yormark's pronouncement that groundbreaking will happen sometime next year (not December 2008 as was recently announced), just after declaring that they were "on target."

Yormark-FN.jpg

Glick then served up a nice leading question: When you look at the current climate, I’m sure hindsight is 20/20, but a lot of big team owners and executives may not have made the plans that they have made. And yet, for the most part, from what I can understand, things are going according to plan. Walk me through some of the litigation issues that still remain in Brooklyn and the Atlantic Yards, and the time frame in terms of getting this project done and completed as soon as you’d like.

Yormark's answer deserves a close look. Listen to his tone, at about 1:02, when he declares "We're on target" and tilts his head (right). Does the uptick in his voice betray that he's not really sure?

BY: Would love to. We’re on target. We are going to, hopefully, get through litigation, some time in March, and shortly thereafter break ground. I look at groundbreaking some time in the first half of ‘09. Obviously, with Barclays and all of our founding partners, our suiteholders—everyone’s excited about it. I’ve spent a lot of time, Alexis, in Brooklyn, meeting with kids, throughout the borough, every day. And there is so much support for this project. And when you look at the project, the affordable housing, job creation, and most importantly, bringing the team and sports entertainment back to the borough. It’s going to be a huge moment. We’re just thankful that things are moving in the right direction.

NoLandGrab: The NJ Nets are on target, if you consider that the arena ground-breaking has been a perpetual moving target.

Check out the rest of the article for more analysis and for a quick check of attendance at last night's game.

Posted by lumi at November 19, 2008 6:08 AM