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September 9, 2009
Nets CEO Yormark predicts financing wrapped up in 45 days, arena in "11-12 season"
Atlantic Yards Report
On Fox Business News today, Nets Sports and Entertainment CEO Brett Yormark answered questions from the unskeptical Alexis Glick.
While the segment was ostensibly about the Nets' pioneering effort to sell naming rights to practice jerseys, at about 3:00 Yormark predicted that the arena would open in the 2011-12 season.
Yormark has regularly shifted the goalposts; last December he insisted the arena would open in three years.
Glick led her arena inquiry with "Everybody wants to know the truth. Is the stadium being built in Brooklyn...?" to which the "marketing genius," who has historically demonstrated a casual relationship with the truth, replied:
We're very excited about our move to Brooklyn. Obviously, there's been lots of delays. But this fall is the fall we've all been waiting for. We'll wrap up financing in the next 30 to 45 days. We will break ground in the next few months. We will get past the remaining litigation--there's one last piece out there. We expect to win that case, like we have the other 25 that have been brought against the project. This is the fall we've been waiting for. Barclays is on board, All of our eight other founding partners are on board. We relaunch our suite sales effort later this month. So we're excited about the future, and we'll be in Brooklyn for the 11-12 season.
AYR notes:
There haven't been 25 lawsuits or even 25 court decisions. Glick didn't ask how long it would take to build the arena--at least two years, right?--and how that would impact a move across the river.
NoLandGrab: If reporters fail to question this made up scorecard, then why shouldn't guys like Yormark use it? On the other hand, it makes you wonder if anything Yormark just said is true.
Posted by lumi at September 9, 2009 5:15 AM