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February 18, 2010
Nets team seals two-year Newark deal
The Real Deal
by David Jones
The New Jersey Nets have reached a long-anticipated deal to move to Newark's Prudential Center for the next two years , as the team plans for the Barclays Arena to open two years from now at the Atlantic Yards project in Brooklyn.
Newark Mayor Cory Booker confirmed the deal following a special session of the New Jersey Sports and Exposition Authority this morning and furious negotiations to finalize talks with the Prudential Center officials.
"It's extraordinarily exciting," Booker told The Real Deal in a telephone interview. "Not only will it bring economic opportunity, energy excitement to our downtown, for the Nets they are going to receive one of the most exciting fan bases they've had in years and years." Sources said the lease with the Prudential Center includes an option to automatically renew for another two years.
NoLandGrab: What's that you say, an option for two additional years? That'd put the Nets in Brooklyn for the 2014-2015 season — one year before the entire project was alleged to have been completed, according to the Atlantic Yards Final Environmental Impact Statement.
Posted by eric at February 18, 2010 9:47 PM