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Devils lease at the Prudential Center


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#1 Matteau#32

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Posted 24 April 2012 - 05:41 PM

Wondering if anyone knows. Work with a guy who is a recent sports mgt grad. We were talking about the Isles situation (he isnt into hockey). I was saying how Brooklyn is a possibility when their lease at the Coliseum ends, but not sure it will happen as the arena was made for bball. Capacity will only be 14,000 or so for hockey and a lot of seats in the upper bowl will be obstructed view (so I have been told). He also works part time for the Nets and he was saying that for whatever reason, the Devils lease at the Prudential Center is not that long. I figured it had to be 20-30 years as a new building, but he remembered a professor of his bringing it up in class and how surprised the guy was that it is not that long. So, anyone know for sure?
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#2 aylbert

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Posted 24 April 2012 - 05:44 PM

Wondering if anyone knows. Work with a guy who is a recent sports mgt grad. We were talking about the Isles situation (he isnt into hockey). I was saying how Brooklyn is a possibility when their lease at the Coliseum ends, but not sure it will happen as the arena was made for bball. Capacity will only be 14,000 or so for hockey and a lot of seats in the upper bowl will be obstructed view (so I have been told). He also works part time for the Nets and he was saying that for whatever reason, the Devils lease at the Prudential Center is not that long. I figured it had to be 20-30 years as a new building, but he remembered a professor of his bringing it up in class and how surprised the guy was that it is not that long. So, anyone know for sure?


It's 100% a 30 year lease.

http://www.ndcrc.com/projects.html

“The Rock” cost an estimated $400mm to build. The City of Newark contributed $220 million for construction. The New Jersey Devils provided the balance of the funds necessary to build the Prudential Center and had ultimate authority on the construction of the building. The Devils have a 30 year lease with the Newark Housing Authority.


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#3 Matteau#32

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Posted 24 April 2012 - 06:14 PM

I figured it had to be 30 years. gracias.
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#4 Colin226

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Posted 24 April 2012 - 07:29 PM

Plus I'm pretty sure the 14,000 seats for a hockey game in Brooklyn is after the obstructed view seats are taken out of the total.. The biggest problem, which Bettman came out publicly and stated, is that the core of the fan base is too far (travel time not distance) to make it to games, especially during the week
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#5 Matteau#32

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Posted 24 April 2012 - 08:08 PM

Plus I'm pretty sure the 14,000 seats for a hockey game in Brooklyn is after the obstructed view seats are taken out of the total.. The biggest problem, which Bettman came out publicly and stated, is that the core of the fan base is too far (travel time not distance) to make it to games, especially during the week

I heard him say that, and I disagree with him. The Rangers draw a huge portion of their crowd from LI, and Atlantic Ave in Brooklyn is a major station for the LIRR. Plus, the fan who works in the city can take the subway to Atlantic Ave and then head home after the game and get to any stop in LI that is not on the Port Washington line. Citifield is on the port washington line, which makes Citifield not a great option for the LIRR.

Edited by Matteau#32, 24 April 2012 - 08:20 PM.

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#6 maxpower

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Posted 25 April 2012 - 01:22 AM

You can't get to the Isles *current* building on a weekday. The issue would be how many commuting fans would be willing to divert to the game and get home at 11PM or later.
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#7 Chuck the Duck

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Posted 25 April 2012 - 08:41 AM

I'm shocked that a professor was ill informed and thoroughly wrong in the information he is conveying to one of his classes. :whistling: The Devils 30 year lease is well documented, and since they pay virtually no rent to play at the Rock, it is highly unlikely they will be looking to break that lease anytime soon.

Isles will not play in Brooklyn simply because of the low number of seats that can he used for hockey in that arena and, more importantly, they don't want to be a tenant to the Nets. Bettman can say all he wants about the location being inconvenient for the fanbase, but that arena is accessed by every major mass transit option there is. He is just posturing for a new arena to be built in Nassau specifically for the Isles, and doesn't want to decrease the teams leverage (moving totally out of the NYC-LI area) by giving credence to an option that would keep them in NY and only take them 20 miles away to an already built facility that won't cost the taxpayers of LI a dollar.
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#8 Triumph

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Posted 25 April 2012 - 09:40 AM

I heard him say that, and I disagree with him. The Rangers draw a huge portion of their crowd from LI, and Atlantic Ave in Brooklyn is a major station for the LIRR. Plus, the fan who works in the city can take the subway to Atlantic Ave and then head home after the game and get to any stop in LI that is not on the Port Washington line. Citifield is on the port washington line, which makes Citifield not a great option for the LIRR.


Right, but this assumes that fans that work in the city are Islanders fans and would be buying tickets. I'm not convinced of this. I don't think the Islanders will be playing in Brooklyn.
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#9 Daniel

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Posted 25 April 2012 - 09:48 AM

Right, but this assumes that fans that work in the city are Islanders fans and would be buying tickets. I'm not convinced of this. I don't think the Islanders will be playing in Brooklyn.


If the Coliseum is condemned because of the asbestos issue, there might not a choice, at least in the short term. Wang always has the option of selling the team to someone in Kansas City or somewhere else. He's one of those "fan" type owners with really deep pockets that wants to keep the team in Long Island, or close enough to Long Island. So I don't think he'd want to retain ownership if the team were playing anywhere else and would only sell if it looks like he has no other choice.

The league would probably have to provide some aid to work out a deal with the Nets to allow the Isles to use the building.

EDIT: Noticed on his wikipedia page, that Wang has said that he regretted by the team, so maybe he wants to cut bait. Who knows.

Edited by Daniel, 25 April 2012 - 09:53 AM.

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