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http://www.nj.com/news/ledger/index.ssf?/base/news-4/1034846900125110.xml

Awesome...

A majority of the nine-member Newark City Council last night approved landmark legislation that puts funding in place to build a $355 million downtown sports arena for the Nets and Devils.

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The city will sell another $35 million in bonds, bringing its total tab to $200 million. YankeeNets has pledged $130 million, and the balance is expected to come from the Essex County Improvement Authority and the new nonprofit agency that will oversee the project.

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The city will own the site and lease the land for 30 years to YankeeNets, who can run the arena itself or find a partner. The sports company will keep revenues generated by naming rights, ticket sales and concessions.
-Petey
 

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Jersey Girl
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yay! i'm all for an arena in newark because newark is more accessible to me in terms of transportation. so, in other words, i can attend more nets games! :rbanana:
 

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Well, I knew this wouldn't impact Kidd's decision. This is the first time in Kidd's career he's had the choice of where he wants to play, he can choose anywhere this year. He was drafted by the Mavs, traded to the Suns, traded to the Nets. Kidd has never got to choose where he wants to end his career, and I didn't expect some new arena plan to change that.

Having said that, this is a good move. From what I hear, there is more transportation in Newark which means easier accessibility for the fans. Also, it would be in a nicer area with hopefully bigger crowds.

I know here in Atlanta all you have to do is take the MARTA train and the stop is RIGHT in front of Philips Arena (the Hawks stadium). It makes a world of difference and is so convenient.
 

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Jersey Girl
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Originally posted by <b>fastbreak05</b>!
I know here in Atlanta all you have to do is take the MARTA train and the stop is RIGHT in front of Philips Arena (the Hawks stadium). It makes a world of difference and is so convenient.
i'm assuming that the new arena will be accessible from the PATH train, which would make it easy for people in jersey city and nyc to get to the games.
 
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