This old arena

Gov. proposes renovations to help keep Devils, Nets

TRENTON, N.J. (AP) -- Gov. James E. McGreevey has proposed renovating the arena used by the New Jersey Nets to persuade the basketball team to stay in the state.

The scenario raised Friday is a shift for the governor, who until now has exclusively supported plans to build a $355 million arena in downtown Newark. Team and administration officials said that plan is not yet dead.

McGreevey made the proposal during a meeting at the Statehouse with principal Nets owner Ray Chambers, The Star-Ledger of Newark reported.

George Zoffinger, chief executive of the New Jersey Sports and Exposition Authority, planned to spend the weekend working out a strategy to renovate the arena and bring in additional revenue for the Nets and the New Jersey Devils without burdening taxpayers.

The Devils also play at Continental Airlines Arena in East Rutherford.

Zoffinger said "the most important thing is to try to do whatever we can within our means to keep the teams in New Jersey."

McGreevey left for vacation after the meeting and could not be reached for comment. Through a spokesman, Chambers declined comment.

Joined by other investors, Chambers bought the Nets in 1998 for one reason: to move the team to Newark to revive his native city. Chambers has said he would sell the team without a Newark arena.

Proposed funding packages for a Newark arena have failed to clear the Legislature. Newark has offered $210 million in subsidies, but Chambers could not persuade his YankeeNets partners to contribute the rest.

"I still hope Newark is a viable option," said Democratic Senate President Richard Codey, who represents Essex County. "If Newark can't afford to keep meeting the high demands of YankeeNets, I still want the teams in New Jersey. The fans suffered with the Nets for many years. They don't deserve this."

A developer, Mills Corp., is building a $1.4 billion entertainment, retail and office complex at the Meadowlands.

To renovate Continental Airlines Arena, the sports authority, teams and developer would need to spend about $100 million on luxury suites, premium seating and retail space on a new arena concourse.

The Nets owners also are in discussions to sell the team to one of four competing ownership groups. One bidder would move the Nets to a proposed arena on the Long Island Rail Road terminal in Brooklyn, and another said he would move the team to Long Island.

The other two could decide to keep the team in New Jersey.

 

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