« Will Brits Bail Out Barclays to Help Build Billion Dollar Brooklyn Arena? | Main | Atlantic Yards Report Sunday Two-fer »
March 8, 2009
When Arenas Collide
The Star-Ledger
By Ted Sherman
The Izod Center and the Prudential Center are only 8 miles away from each other in New Jersey. This is causing a conflict wherein both arenas are competing for the same events. (Events like the circus, the ice shows and concerts are much more profitable for these arenas than sporting events.) The uncertainty of the status of the proposed Barclays arena is part of the mix as to whether to keep both Izod and Prudential open or at least find a way so that they cooperate, and not compete.
Last week's announcement that the New Jersey Nets, who call Izod home, will play two preseason games at Prudential next fall fueled new speculation that the team will abandon a five-year quest to move to Brooklyn and make a deal to play basketball in Newark. At the same time, it reignited a debate over the competition between the state-operated arena in the Meadowlands and the new arena, nicknamed "the Rock," that was intended to spark a renaissance in the state's largest city.
"I believe we need to start looking at this as a regional issue," said Newark Mayor Cory Booker. "Ultimately having a very old arena and a new arena cannibalizing each other is just not a productive thing for our state."
Prudential Center officials say they are not at war with Izod, but it was always their expectation that Izod would close once the Devils and Nets left the Meadowlands.
New Jersey Senate President Richard Codey wants to see the two arenas cooperate, and also wants to see the Nets stay in New Jersey despite stated intentions by the Nets to do otherwise.
Codey's greater concern is to see the Nets stay in New Jersey -- and, for him, to move to Newark. "It's time they fish or cut bait. They've been in a holding position on the tarmac for more than five years and it's not right," Codey said. "The Nets need a first-class arena."
The Nets, however, say that arena will be in Brooklyn. Team chief executive Brett Yormark said the vision has not strayed from a planned $1 billion Frank Gehry-designed arena there, and they expect to break ground on the project by this summer, despite the worsening recession that has affected major commercial development nationwide.
"Even in a challenging economy, we are doing multiyear deals and seven-figure deals for Brooklyn. That's where we're going," said Yormark. "I wish the Prudential Center well and I want them to be successful there. But our intention is to go to Brooklyn."
NoLandGrab: Does anyone believe that, even if it is built, the Brooklyn arena will be designed by Frank Gehry? It's pretty clear he's no longer involved.
Posted by steve at March 8, 2009 11:15 AM