If you were new to the NFL you’d think that the New York Giants play in New York. They don’t. They play at the Meadowlands in New Jersey. They even share a stadium with the New York Jets. No New Jersey love here.
Today comes word that the fine folks of New Jersey will be screwed again. The NFL New York Giants reached an agreement with the state of New Jersey for a new stadium.
Acting Gov. Richard J. Codey said the:
agreement that will keep the Giants here in New Jersey, where they belong.
Look at the terms:
- The Giants will pay the entire cost of construction and manage the facility. Sounds good.
- The Giants will pay $6.3 million in rent. Good.
- New Jersey will pay $30 million in road work improvements. Bad.
- New Jersey will be responsible for the $124 million debt for the first stadium. Horrible.
- The team gets to sell the naming rights and keep the money. Horrible.
Good for the Giants. Somewhere between bad and horrible for New Jersey. It’s amazing that there is still so much debt on the Meadowlands. Even more amazing is that the state of New Jersey is picking up the tab.