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Thread: MSG Offers $600M for N.Y. Stadium Site

  1. #1
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    MSG Offers $600M for N.Y. Stadium Site

    Sat Feb 5,10:12 AM ET

    By LARRY McSHANE, Associated Press Writer

    NEW YORK - Madison Square Garden raised the stakes for a property where the New York Jets (news) want to build a stadium by offering $600 million twice what the Jets have been asked to pay.


    The Garden, which has spent millions opposing a proposed $1.4 billion stadium in Manhattan because of fears the arena may draw away lucrative events, made its surprise offer in a letter Friday to the Metropolitan Transportation Authority (news - web sites). The Garden is about two blocks east of the proposed stadium site.


    "This is first indication we have received from Madison Square Garden, after months of public discussion, that they are interested in our property," said Tom Kelly, an MTA spokesman. "We will review the proposal."


    Cablevision, which owns the Garden, proposed buildings including a hotel and housing on the site, rather than the Jets stadium, which has also been a centerpiece of the city's bid to host the 2012 Olympics.


    The site is currently a rail yard for the MTA's Long Island Rail Road.


    Jets spokesman Matt Higgins immediately dismissed the offer as "a desperate ploy and a PR gimmick by a company that will do anything to hold onto its monopoly."


    But the bid comes as the nation's largest transit system faces sharp criticism for not seeking enough for the property. The MTA has valued the site at $330 million, but the Jets appraiser came up with a price of $36.9 million the presumed worth of the site minus the $316 million cost of building a platform over the rail yards.


    The Jets were asked to pay $300 million, and were moving toward arbitration with the MTA.


    Mayor Michael Bloomberg supports the stadium and has warned that the Olympics bid will be doomed without it. Deputy Mayor Daniel Doctoroff the Garden was attempting to derail a project that would create thousands of jobs and realize the city's Olympic dreams.


    A spokesman for the NYC2012 Olympic organizing group had no immediate comment.

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    Now the Selling of VOOM by Cablevision 2-weeks ago makes more sense.

    The Dolans now can spend up to 2 Billion dollars for the air rights from the MTA - It's gonna be one hell of a 9th inning!

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    I`m so sick of DOLAN , You`d think someone could re-route one of those PENN STATION trains right through his office in the garden .

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    Originally posted by joiseyjet@Feb 6 2005, 10:11 AM
    I`m so sick of DOLAN , You`d think someone could re-route one of those PENN STATION trains right through his office in the garden .
    I agree. This is one of the reasons I didn't join the NYABC over a year ago & I never will. Though I have my own opinions over a Manhattan site, I just did not want to sell my soul to Satan in order to prove it!

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    i dislike the dolans as much as the next guy, as a knicks fan, as someone who grew up on LI and saw most of his friends/family held hostage over the yankees tv deal, etc.

    that said, you can't blame them for wanting to stop a project that will spell the end of their business at msg, any more than you can blame woody for trying to capitalize on his investment at a minimum of out-of-pocket expense.

    it's all just good business.

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    Originally posted by isired@Feb 6 2005, 11:26 AM
    i dislike the dolans as much as the next guy, as a knicks fan, as someone who grew up on LI and saw most of his friends/family held hostage over the yankees tv deal, etc.

    that said, you can't blame them for wanting to stop a project that will spell the end of their business at msg, any more than you can blame woody for trying to capitalize on his investment at a minimum of out-of-pocket expense.

    it's all just good business.
    That`s fine but nobody stood in dolans way to buy the garden, and how much public money has gone into THE METS ,YANKEES, ISLANDERS, RANGERS , KNICKS FACILITIES over the years while the jets saved the city money by shareing a facility with the mets ,it`s time for us ....BLOOMBERG should condem the garden or rezone it and put him out of buissness...

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    Dolan, though, is protecting a monopoly. He doesn't want fair competition. I don't see how wanting to build a stadium in Manhattan is the same as protecting a monopoly in the area. Dolan is slime, scum. He has ruined my Rangers & Knicks. I was sooo relieved that he did not buy the Jets.... But now he's going to ruin them anyway. It's tough because it's such a politically charged issue. If this deal doesn't go through I sure hope that Queens is another option. The Jets MUST get their our stadium in NY.

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    The Dolans are such shady characters- they know as reported this week that The Jets and MTA have differences in the appraisal of the railyards so they are trying to grab the headlines and put out this figure to sway the public opinion against the Jets.
    Where has this proposal been all this time I ask the Dolans-how about paying the back taxes to the city that they have not been having to pay.

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    This is just par for the course for an assh*le like Dolan. This doesn't surprise me in the least. By the way, do you think he will use all of the money he has saved in tax exemptions from the city to buy the land? Therefore, screwing the city with there own money, right?

    Isired:

    It has occured to me that whenever the issue of the stadium comes up, you are normally one of the most knowledgeable. How could you be so wrong on this one?

    You say you can't blame for trying to protect his monopoly??? My A*S I can't blame him. That jerk has spit in the face of NYC politicians for years getting WHATEVER he wanted. He has been tax exempt for what 22 years now? He hasn't had any competition, so yes in fact you could LEGALLY say in NYC he has a monopoly.

    So I can't blame him for that?? Let me count the ways I can blame him:

    (1) Whether he deserved to be tax exempt in the early 80's remains to be seen. But I know DAMN well he SHOULDN'T be tax exempt now. Therefore, he has been robbing the city of much needed tax revenue for years now.

    (2) When one other person wants a favor from the city that Dolan finds to not be so helpful for his own cause, he gets all pissy about it. In other words, he won't have his monopoly any more. By the way, monoploies if proven to exist, are ILLEGAL.

    (3) So where Dolan is pissed he can't have his cake and eat it, he decides to buy the land with undoubtedly at least some money he saved because HE WASN"T PAYING TAXES. So let me see, couldn't that be summarized as F***ING the people with there own money? Or F***ING the mayor with the money that the mayor himself helped him get?

    (4) The Knicks and Rangers suck and are pathetic franchises. So with this monoploy he has he couldn't at least put a better product on the field?

    (5) His cable sucks and is OUTRAGEOUSLY priced.

    If these are not good reasons to BLAME that PR**K for trying to protect his monoploy, I do not know what is..........

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    Good.. down with this ridiculous stadium... the Jets should just stay in the Meadowlands... I keep repeating myself on here but tailgaiting is a big part of going and without that, why bother going? :unsure:

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    Originally posted by JetChefJR@Feb 6 2005, 12:40 PM
    Good.. down with this ridiculous stadium... the Jets should just stay in the Meadowlands... I keep repeating myself on here but tailgaiting is a big part of going and without that, why bother going? :unsure:
    to watch your team play. i cant believe you guys. You rather tailgate than watch the best team play in the best stadium in the best city. Im sure you can come up with different things to do before the game. New Yorkers are creative.

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    Originally posted by joiseyjet@Feb 6 2005, 12:15 PM
    BLOOMBERG should condem the garden or rezone it and put him out of buissness...
    i think that's exactly what will happen if the stadium goes through (posted earlier).

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    mainejet---AWESOME POST!


    The Jets MUST get out of the Meadowlands, whether it's Manhattan, Queens, Yonkers, etc.

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    Originally posted by Mainejet@Feb 6 2005, 01:27 PM
    Isired:

    It has occured to me that whenever the issue of the stadium comes up, you are normally one of the most knowledgeable. How could you be so wrong on this one?

    You say you can't blame for trying to protect his monopoly??? My A*S I can't blame him. That jerk has spit in the face of NYC politicians for years getting WHATEVER he wanted. He has been tax exempt for what 22 years now? He hasn't had any competition, so yes in fact you could LEGALLY say in NYC he has a monopoly.

    So I can't blame him for that?? Let me count the ways I can blame him:

    (1) Whether he deserved to be tax exempt in the early 80's remains to be seen. But I know DAMN well he SHOULDN'T be tax exempt now. Therefore, he has been robbing the city of much needed tax revenue for years now.
    i don't like that he's tax exempt, but he negotiated that deal at a time when the current mayor (koch?) felt he had to make that deal. i'll say this again - you can't have it both ways - you can't loathe the dolans for living property tax-free and then support the idea that woody should be free of ALL taxes until his debt is paid and property taxes beyond that. i don't blame woody for accepting that any more than i blame the dolans. how do you feel about woody's tax deal? if this goes through, will you resent it even more? because he'll get all of the dolans' perks and many more? or will you write it off as 'good business'? you can't blame them for negotiating the best deal. you can't expect them to leave money on the table. none of them would be where they are if they did that.


    (2) When one other person wants a favor from the city that Dolan finds to not be so helpful for his own cause, he gets all pissy about it. In other words, he won't have his monopoly any more. By the way, monoploies if proven to exist, are ILLEGAL.
    as far as a monopoly, maybe he has one in cablevision (i don't know, i have a choice between 2 providers in my manhattan neighborhood, but neither is cablevision), but msg is no more a monopoly than any other stadium/arena - most markets have one of each, no more. would you be happy in his situation? also see my link reply above, as to why i think he's fighting for the survival of the garden).


    (3) So where Dolan is pissed he can't have his cake and eat it, he decides to buy the land with undoubtedly at least some money he saved because HE WASN"T PAYING TAXES. So let me see, couldn't that be summarized as F***ING the people with there own money? Or F***ING the mayor with the money that the mayor himself helped him get?
    well it wasn't this mayor, and while i think they have largely been idiots about the whole situation (i've posted many times that i think their involvement has done more to crystallize the opinions of fence-sitters for the stadium), this was, i believe, a purely business-related move. i admit, one of my biggest peeves about the project was that i felt the mta would get less than they could, which would impact me and other city residents over the next 20 or so years far more than tax increases would.

    (4) The Knicks and Rangers suck and are pathetic franchises. So with this monoploy he has he couldn't at least put a better product on the field?
    totally agree. the dolans ran those franchises into teh ground, and i hate them for it. i don't like them at all, but i can understand their motivations without lewtting my status as a jets fan and season ticket holder cloud my opinion. i think many here can't do that.

    (5) His cable sucks and is OUTRAGEOUSLY priced.
    i don't know if it sucks, i have friends that are very happy with it, and friends that aren't. i know it's overpriced, that's the situation where i think you have a legit claim for competition. you gotta admit, that 'choose your camera' thingy with the knicks games is cool. i wish i had that.
    If these are not good reasons to BLAME that PR**K for trying to protect his monoploy, I do not know what is..........
    i really don't see how you can possibly not feel rage and angerr at woody, then, if his deal goes through (though i think it would be misplaced, same as with the dolans, he's trying to get the best deal he can). he'll get even more of a benefit on the taxpayer's backs.

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