West Side StadiumI'm amazed at Jets fans who are excited at the prospect of a new stadium on the West Side.
As a New York City resident, I think the $600 million gift by the city and state - which will of course be picked up by taxpayers - is completely unjustified. The $720 million offered by the Jets is too low now that the area will be developed not only with the stadium/convention center, but with hi-rise residential buildings. If the MTA had solicited offers from real estate developers, it could have obtained much more than $720 million, especially in this real estate market.
As a Jets fan and long-time season ticket holder, the stadium might mean that after 2008, I will no longer be able to go to games, and I'd expect many Jets season ticket holders will be unable to afford maintaining their tickets. When I first obtained the tickets, they were $25 per game, and exhibition games did not need to be purchased. Now they are $70, including the two exhibition games, meaning $700 for 8 games, or a little under $90 a ticket. Not cheap, but still affordable.
With the Jets spending well over $1 billion for the stadium, it's clear that the fans - or more accurately the corporations - will ensure the stadium's profitability for the team. There is talk about charging thousands of dollars for a license giving one the right to maintain or buy season tickets.
Ultimately, nobody benefits from the new stadium except Jets owner Woody Johnson. The real fans, and the taxpayers are getting screwed. For once and perhaps for the only time, the evil empire called Cablevision is right.
posted on 3/31/2005
