Corzine Wants Better Stadium Deal For New Jersey
George Zoffinger, the chief executive of the sports authority, was a vociferous critic of what he described as the one-sided nature of the new deal. But he was overruled by Mr. Codey. "It's 183 for the Giants and the Jets to five for the state of New Jersey," said Zoffinger.We have been advocating for Governor Corzine to step in before it’s too late and renegotiate a deal more favorable to the state. Today we found good news:
“Gov. Jon Corzine does not like the new football stadium deal; he wants more money for the state; more taxes for East Rutherford; and a roof on anything built.”Look for the Giants and Jets to make threats to sue the state and continue their spin about how this deal is “more favorable to the state of New Jersey and the taxpayers than any stadium deal ever.” That ought to give you some idea of how bad stadium deals are for taxpayers everywhere.
Now, according to three top state officials, Corzine wants an increase in rent and property tax payments. He also wants to make the teams build a $100 million roof so the stadium could host a Super Bowl and the Final Four college basketball tournament.
At the same time, East Rutherford Mayor James Casella said last week his borough wants at least $8 million a year in property taxes -- six times what the teams originally agreed to.
Governor Corzine can now press the state’s advantage. The longer negations are drawn out, the more it costs the Giants and Jets. And New Jersey can continue to collect revenue that would be lost if the deal went though unchanged.
Each year the Giants and Jets play in the existing stadium is another year they will not collect a projected $183 million in total revenue from a new, yet-to-be-named stadium. That is more than double what each team now collects in stadium-related revenue.One more thing we’d like to add to Corzine’s negations list – the “New York” has to be dropped from the teams’ names and replaced with “New Jersey.” No name change, no deal.
We are with you all the way on this one Governor Corzine – go for it!