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May 6, 2009
NBA commissioner David Stern confident New Jersey Nets will break ground this summer in Brooklyn
The Star-Ledger
by Jenny Vrentas
Gathered in a ballroom of the Mandarin Oriental hotel in Manhattan, within miles of new stadiums already built or on the horizon for each of their sports, the commissioners of Major League Baseball, the NBA, NFL and NHL faced an obvious question: In this terrible economy, how much of a burden will teams bear after opening their palaces?
"It's hard work, and it's going to be harder certainly now," NBA commissioner David Stern said at Wednesday morning's "Future of Sports" panel. "But it will have a period of readjustment, and it will continue to go."
That was the overriding mentality as the commissioners -- whose leagues pull in a combined annual revenue of $21.2 billion -- discussed the effect of these trying economic times on professional sports. While adjustments need to be made, the leagues are still moving forward.
In no area is that more relevant than New York, where the Devils, Mets and Yankees have all recently opened new venues, the Giants and Jets are completing their joint stadium, and the Nets have plans to begin construction of their new home.
Stern was confident the Nets' Brooklyn relocation project, the future of which has been in doubt, would break ground this summer. "Yes, they will, I'm told," he said. "I'm sure."
NoLandGrab: Sure he's sure. Not to mention that asking the commissioners of the four major sports leagues about how their franchises might really be faring is like asking Jim Cramer if stocks are a buy.
Posted by eric at May 6, 2009 10:42 PM