New York Sports and Convention Center

Change in Tide

2004-12-10T16:12:00.000-08:00

I recently received a letter titled "Attention New York Jets Season Ticket holders." To my disbelief I realized where the money the Jets are willing to pay for the stadium is going to come from. The letter told me that if the new stadium is built, we as ticket holders will be obligated to pay $10,000 per ticket in order to carry over our seats to the new stadium. If we choose not to pay the fee, then we choose to forfeit our seats. This completely changed my opinion about the New Sports and Convention Center.

Clearly there are many hidden costs and tricks that we as the public have yet to see. A recent report stated that half of the $800 million that the Jets organization promised to pay may be withdrawn from the bargaining table. This means that this source of cash flow is going to have to have to come from a different stream. The only way this stadium is going to be paid for is by tax revenue or a debt structure. A bond offering of at least $400 million is going to be needed.

The picture is beginning to be painted for me. For over a year I have been a firm supporter of this stadium. The recent developments have now swayed my vote to a nay. The building of this stadium is just not feasible without the support of a big time venture capitalist. If the Bloomberg team can get some type of syndicate investors together to help in paying for this stadium, maybe I will be on board. Although the New York Sports and Convention Center may sound good, when all the T’s are crossed and I’s are dotted it is clear that this stadium just doesn’t work. The stadium committee must come up with a better argument than it will help bring the 2012 Olympics to NYC. This stadium doesn’t make sense in dollar terms, or rather any terms for that matter.

What's the pulse?

2004-12-10T16:10:00.000-08:00

I am beginning to grow tired of the endless advertisements posed by both sides over the recent weeks. I feel every time I turn the television on or listen to ESPN radio at work, there is a constant blitzkrieg from both sides regarding the West Side stadium. The first campaigns were started by the Dolan family, which own Madison Square Garden. Mayor Bloomberg, who is a firm supporter of building the new stadium, countered with his own advertisements.

This has turned into a continuous, drawn out display of public service announcements. The problem is that both sides are making unfair accusations. The opposition is probably gaining ground, because most NYC citizens that I have spoken to are beginning to grow weary of the stadium. At first many felt that the Jets deserved a new stadium, but now many of my fellow colleagues feel that this stadium will be more of a burden rather than a great addition.

What is creating this great change in the tide? Is it the advertisement? Does it really work? The negative ads have taken aim at issues that matter to the public; money, safety, and children. The consensus is that this stadium will cost the tax payers all the dollars, and the last thing New Yorkers want hear is tax raise. Secondly, the amount of money to go to the stadium will have to come from somewhere. Thus, education and safety are going to be greatly affected.

Is the stadium going to be built? In time we will see, but in the November election in Texas, a new stadium was voted on by the public. An overwhelming decision was made in favor of building, and so construction will begin in 2006. Why is there such support in Texas? Maybe the Bloomberg administration should change their game plan. If the current campaign continues, it looks like my beloved Jets will once again be short changed out of a new stadium.

New York Sports and Convention Center

2004-12-10T15:58:00.000-08:00

The radio and television advertisements that have been flooding the airwaves about the “West Side Stadium” are paid for by cablevision. The “West Side stadium” is also known as the “New York Sports and Convention Center”. Most of the publicity has been focused on the negativity surrounding the possible creation of this stadium. Allow me to take a few moments to address this situation.

It will be a 75,000 seat open air stadium and multi purpose facility. It will be an extension of the Jacob Javits Center and could produce an additional 7,000 jobs. 72 million dollars could also flow into the city through tax revenues. Numerous complaints stem anywhere from increased traffic problems, to the stadium will hurt NYC chance at winning the bid for the 2012 Summer Olympics. Personally, I couldn’t be happier if the Olympics did not come here, but the new stadium will only better the city’s chances. Since the stadium will be built in NYC, a major source of transportation will come through the subway.

The New York Jets have offered $800 million dollars of private investment, which should also fight the argument that the stadium is going to cost the citizens of New York City millions in tax dollars.

So where are these advertisements coming from? As stated earlier, Cablevision is responsible for the recent bashing. There motive is that they own Madison Square Garden, the one and only sports venue in New York City. The building of this new stadium will surely draw away sporting events from MSG.

The New York Jets deserve their own stadium. They are a well established franchise and the only one that shares a stadium with another NFL team. Disregard those advertisements and look at the facts….The New York Sports and Convention Center is great for the city, so “Let’s Build It Already.”