Feb 26, 2013, 9:55 AM EDT
New Jersey Devils and City of Newark have reached a revenue-sharing arrangement for the Prudential Center, according to the Star-Ledger.
If the deal is approved by the city council, it would be the end of a lengthy and heated saga that involved Mayor Cory Booker calling Devils owner Jeff Vanderbeek “a highfalutin, high-class huckster and hustler.”
That statement came after arbitrators ruled that Newark had to pay the hockey franchise $2.7 million a year in parking revenue. The new agreement will reportedly continue that practice.
The city will also construct a new parking deck on Green Street, which is guaranteed to generate some income because the Devils have already committed to renting spaces.
This deal, if approved, also means that Newark will put a 1.37% tax on tickets for the Devils’ home games — as well as for any other tenant events. The state Legislature would need to sign off on the tax.
When everything is said and done, Newark could raise $50 million over the span of what’s believed to be at least a 25-year agreement.
Jul 23, 2014, 4:20 PM EDT
“We’ll see what happens. It’s a couple years away.”
Jul 23, 2014, 2:50 PM EDT
Jim Benning, making deals.
Jul 23, 2014, 1:45 PM EDT
“Any of the perceived animosity came from the outside.”
Jul 23, 2014, 12:57 PM EDT
His previously “yet-to-be-determined capacity” has been determined.
Jul 23, 2014, 12:41 PM EDT
“My style and build might be better against the bigger guys.”
Jul 23, 2014, 11:34 AM EDT
Won a couple of Stanley Cups with the Pittsburgh Penguins.
Jul 23, 2014, 10:48 AM EDT
Had seven goals with 21 assists last year for the Avs.
Jul 23, 2014, 10:23 AM EDT
The 23-year-old can now become an unrestricted free agent in the summer of 2016.
Jul 23, 2014, 9:56 AM EDT
Derick Brassard and John Moore to go.
Jul 23, 2014, 9:00 AM EDT
Barry Trotz continues Adam Oates’ alteration, at least for now.
Jul 23, 2014, 9:00 AM EDT
Wednesday’s delectable spread of links.
Jul 22, 2014, 11:00 PM EDT
They locked him up to a four-year deal on Tuesday.
Jul 22, 2014, 10:15 PM EDT
He spent last season playing in Switzerland.
Jul 22, 2014, 9:01 PM EDT
The Cuban-American could help market the sport.
Jul 22, 2014, 7:38 PM EDT
Turning over a new leaf?
Jul 22, 2014, 6:13 PM EDT
That’s $1 million less than his reported asking price.
Jul 22, 2014, 5:15 PM EDT
It’s believed to be worth $2.55 million overall.
Jul 22, 2014, 3:52 PM EDT
Another buy-low bargain like Mason Raymond?
Jul 22, 2014, 2:30 PM EDT
Jul 22, 2014, 1:42 PM EDT
Also went to bat for Jumbo Joe.
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