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December 8, 2009
According to bond deal, Nets in Brooklyn could only give 15% of the tickets away (without paying a larger license fee)
Atlantic Yards Report
According to the documents outlining the arena bond deal, the Nets would only be allowed to give up to 15% of game tickets away because:
...the team (New Jersey Basketball) would be obligated to make payments each year to the arena operator (ArenaCo) for the use and occupancy of the Arena, and one formulation of that license payment involves 10% of Net Ticket Revenue.
NoLandGrab: The deal doesn't preclude the Nets from selling tickets for a dollar, which is the amount the State is charging Bruce Ratner to lease the arena.
Posted by lumi at December 8, 2009 7:08 AM