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Newark gets short end in Prudential Center revenue share ruling


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#41 Triumph

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Posted 04 April 2012 - 01:10 PM

Can these remarks by Booker be interpreted as defamation of character against Vanderbeek, thus resulting in some kind of lawsuit? I'm curious to see how Jeff reacts to these accusations. I mean, what Booker said was really harsh.


It was also true, if you hadn't really noticed what's going on around the team apart from this.
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#42 Chuck the Duck

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Posted 04 April 2012 - 01:10 PM

Dude is so full of sh!t, just like the rest of them. "Newark is a city of hope" What a bunch of political bullsh!t.


Ironically, the only "hope" that city has is centered around and strictly based upon the construction of the arena that he feels was such a bad deal.
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#43 maxpower

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Posted 04 April 2012 - 01:18 PM

It was also true, if you hadn't really noticed what's going on around the team apart from this.


Yeah, he's basically kicking the guy in the ass on the way out, it's still lame on his part because he signed off on this deal for some rather lame concessions, which have been met. He won't say anything about the real "villain" in this situation because he's got to get elected and he doesn't want to offend Sharpe James' deadenders anymore than he already has. So, bring up the outside threat boogeyman who's going away.

Ironically, the only "hope" that city has is centered around and strictly based upon the construction of the arena that he feels was such a bad deal.


Meh, they're not making any money off of it. It helps downtown a bit but doesn't do jack for anywhere anyone actually lives, maybe a small exception for the Ironbound. They would have blown the money the state gifted them any way they used it, though.
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#44 Chuck the Duck

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Posted 04 April 2012 - 01:36 PM

Meh, they're not making any money off of it. It helps downtown a bit but doesn't do jack for anywhere anyone actually lives, maybe a small exception for the Ironbound. They would have blown the money the state gifted them any way they used it, though.


Booker is not a stupid man. He knows that publically financing the construction of buildings like this do not fill the city's coffers with cash. In fact, just about anything the City could have done with the $210 million payment they received from the Port would have been a better investment over the life of the building. However, the arena makes Newark somewhat relevant again, especially since the arena is one of the top venues in the country. It's supposed to be a magnet for investment in the area around the arena. The fact that this largely hasn't materialized is Booker's biggest problem, not the lack of "rent" they receive from the Devils as a result of this arbitration award.

He is looking for someone to blame for the lack of investment save a few bars and the hotel around the arena itself, on top of the fact that the City, which is basically pennyless, must now pay the Devils $600,000 in the next 30 days per the ruling.

He went on and on about KVB's broken promises, but never touches on the breach of contract from the city's end regarding their failure to construct triangle park. They've wasted millions designing and re-designing that damn park, when they could have easily laid sod and planted trees with nice paver walkways lining the park for the money already spent. Total municipal corruption at its best, much like how they're pissing away the $100 million Zuckerberg gifted the City.

He knows full well that the people he is pandering to are completely uninformed regarding the facts of this deal, and is simply trying to make cheap points in the court of public opinion with his fake anger. F Corky and the band of misfit that run that City.
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#45 RunninWithTheDevil

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Posted 04 April 2012 - 01:36 PM

Cory was blasting JVB on Twitter too
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#46 Marv4Life

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Posted 04 April 2012 - 01:39 PM

Typical clueless Booker. Newsflash Mr. Clean, the city is getting 75% of parking revenue which wouldn't be available if not for the arena. Same with the hotel/payroll taxes, as well as the taxes from the restaurants around the arena. Not NBK's fault the city is ran by retards who can't read a contract properly.
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#47 lucifer91

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Posted 04 April 2012 - 01:47 PM

i wonder what JVB reaction to this will be?

Link for video of presser for those that didnt see it.
http://www.ustream.t...m_medium=social

Edited by lucifer91, 04 April 2012 - 01:51 PM.

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#48 Daniel

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Posted 04 April 2012 - 02:00 PM

Can these remarks by Booker be interpreted as defamation of character against Vanderbeek, thus resulting in some kind of lawsuit? I'm curious to see how Jeff reacts to these accusations. I mean, what Booker said was really harsh.


JVB doesn't have much of a reputation to be damaged these days.
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#49 ghdi

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Posted 04 April 2012 - 02:00 PM

A political kneejerk. You can't overread this stuff.

At any rate, in five years neither Cory Booker nor Jeff Vanderbeek will be associated with the city of Newark or the Devils other than having tickets to games and the word "former" before their current titles.
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#50 maxpower

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Posted 04 April 2012 - 02:03 PM

Booker is not a stupid man. He knows that publically financing the construction of buildings like this do not fill the city's coffers with cash. In fact, just about anything the City could have done with the $210 million payment they received from the Port would have been a better investment over the life of the building. However, the arena makes Newark somewhat relevant again, especially since the arena is one of the top venues in the country. It's supposed to be a magnet for investment in the area around the arena. The fact that this largely hasn't materialized is Booker's biggest problem, not the lack of "rent" they receive from the Devils as a result of this arbitration award.

He is looking for someone to blame for the lack of investment save a few bars and the hotel around the arena itself, on top of the fact that the City, which is basically pennyless, must now pay the Devils $600,000 in the next 30 days per the ruling.

He went on and on about KVB's broken promises, but never touches on the breach of contract from the city's end regarding their failure to construct triangle park. They've wasted millions designing and re-designing that damn park, when they could have easily laid sod and planted trees with nice paver walkways lining the park for the money already spent. Total municipal corruption at its best, much like how they're pissing away the $100 million Zuckerberg gifted the City.

He knows full well that the people he is pandering to are completely uninformed regarding the facts of this deal, and is simply trying to make cheap points in the court of public opinion with his fake anger. F Corky and the band of misfit that run that City.


The problem he has is that this investment in downtown that is coming in drips and drabs does nothing for the quality of life for the citizens, it gives them some opportunities for service industry jobs but that's about it. So he has to be enraged and JVB is an easy target because he's a dead man walking. He has to play this act, it makes him look like a moron for people who KNOW, but like you said, the people that don't know, it looks good, he's fighting the man.

Still have no idea why this even went to court, there was no way they were going to win.
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#51 Chuck the Duck

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Posted 04 April 2012 - 03:03 PM

The problem he has is that this investment in downtown that is coming in drips and drabs does nothing for the quality of life for the citizens, it gives them some opportunities for service industry jobs but that's about it. So he has to be enraged and JVB is an easy target because he's a dead man walking. He has to play this act, it makes him look like a moron for people who KNOW, but like you said, the people that don't know, it looks good, he's fighting the man.

Still have no idea why this even went to court, there was no way they were going to win.


I couldn't agree more. If nothing else, the ruling helps the City by ensuring the Devils remain in Newark for likely the remainder of its lease even if they go into bankruptcy and are sold. That means they get to "tax payroll" of the Devils and continue to collect 75% of all parking tax revenue from events at the arena over the life of the lease. Meanwhile, the Devils get to play in their home arena practically rent free, and get to keep all concession and all non-hockey related revenue generated by the arena, which Booker claimed was $11 million last year clear of all taxes and expenses. Nowhere in this country (and probably Canada as well) will the new owners of the team find more favorable business conditions than the Devils have with this deal, not to mention the large media rights contract they have with MSG+.

The construction of the arena may have bankrupted JVB and the City of Newark, but I really can't see how a new owner taking control of the team and arena clear of most, if not all current debt (in the event of a bankruptcy), can't make this team profitable.
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#52 maxpower

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Posted 04 April 2012 - 03:11 PM

I couldn't agree more. If nothing else, the ruling helps the City by ensuring the Devils remain in Newark for likely the remainder of its lease even if they go into bankruptcy and are sold. That means they get to "tax payroll" of the Devils and continue to collect 75% of all parking tax revenue from events at the arena over the life of the lease. Meanwhile, the Devils get to play in their home arena practically rent free, and get to keep all concession and all non-hockey related revenue generated by the arena, which Booker claimed was $11 million last year clear of all taxes and expenses. Nowhere in this country (and probably Canada as well) will the new owners of the team find more favorable business conditions than the Devils have with this deal, not to mention the large media rights contract they have with MSG+.

The construction of the arena may have bankrupted JVB and the City of Newark, but I really can't see how a new owner taking control of the team and arena clear of most, if not all current debt (in the event of a bankruptcy), can't make this team profitable.


Yep, it establishes that the Devils own the arena in all facets, except on paper. I mean, they could make more money in the Toronto area but why the hell would you spend so much money to put a team there, if the league ever told the Leafs to STFU and like it. Much cheaper options, you could probably buy the Isles for $20 right now
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#53 Daniel

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Posted 04 April 2012 - 03:17 PM

Much cheaper options, you could probably buy the Isles for $20 right now


Or someone could pay you to take a piece of the Devils.
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#54 NJDevs4978

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Posted 04 April 2012 - 03:18 PM

I really wish I was there for the State of the Team thing this year lol, if the right people ask the right questions Saturday, JVB might give some interesting answers.
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#55 maxpower

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Posted 04 April 2012 - 03:36 PM

Or someone could pay you to take a piece of the Devils.


Who would be stupid enough to do that? The purchase price of the Devils because of the debt is going to be enormous.
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#56 devlman

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Posted 04 April 2012 - 03:41 PM

i wonder what JVB reaction to this will be?

Link for video of presser for those that didnt see it.
http://www.ustream.t...m_medium=social


Thanks for the link. Booker sounds like an idiot and is distorting the truth. Imagine, Newark goes from taking in $10 mill in parking revenue to $7 million through a fair and legal case..and this warrants this whole circus press conference and outrageous insults?

Hate the bad PR this is gonna give us going into the playoffs. Bad vibes...

One more thing: Booker has been mayor over tragic murders and atrocities and never once displayed anything close to this level of outrage. It just doesnt add up.

Edited by devlman, 04 April 2012 - 03:54 PM.

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#57 Daniel

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Posted 04 April 2012 - 03:51 PM

Who would be stupid enough to do that?


Ray Chambers. And you don't amass a billion dollar fortune by being stupid.
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#58 Marv4Life

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Posted 04 April 2012 - 03:51 PM

The audio's missing from the vid.

In any rate, he can't be THIS moronic. This might be typical political grandstanding. He even said on Twitter he's a fan of the team.
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#59 Daniel

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Posted 04 April 2012 - 03:53 PM

I really wish I was there for the State of the Team thing this year lol, if the right people ask the right questions Saturday, JVB might give some interesting answers.


I can see it now.

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The audio's missing from the vid.

In any rate, he can't be THIS moronic. This might be typical political grandstanding. He even said on Twitter he's a fan of the team.


Funny also considering Chambers was one of his biggest backers.
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#60 Neb00rs

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Posted 04 April 2012 - 04:00 PM

Just saw the video: WOW he blew that way out of proportion, I felt like he was talking about Stalin and the citizens of newark were poor oppressed Russian citizens. He even incited class warfare there. That was really ugly.
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