This doesn't work long term. The only solution is closing Izod, razing the facility and selling the land to a private developer who will actually turn a profit. Transfer all events to the Prudential Center. The debt load on Izod is huge, it doesn't make money no matter what the NJSEA says, and most importantly, two arena 11 miles for each other won't work in North Jersey. Izod getting all the concerts and other events takes away from events at The Rock. Those booking are just as important as having the sports team anchor tenants. Frankly, I'm surprised FoS would endorse this suggestiom.

What makes sense for the region as a whole isn't necessarily what's important here — it's what makes the most sense for each of the two parties involved (NJSEA and the Devils). Even if in an ideal world neither arena would want the other to exist, at least this way they each get something in return, and increase their leverage a smidge with the concert bookers, since The Rock wouldn't have many significant open dates in the winter. And it's not like the Izod debt is going away even if they tear the place down.

I don't think it's a solution, but I can understand the logic behind it.

I understand your point, which is why I said this is a bad long-term decision. I have been following the plight of the Nets' new home for the last 11 years; I have no confidence in Barclays' Center ever being built, nor do I think it should be built. You'll find more of my thoughts on Netsdaily.com under MrT, but in short, there are political concerns here as well as economic. NJ is in the midst of a contested Gov. race between the Democratic incumbent and 2 challengers. It's not surprising to me that this announcement comes out right after Pres. Obama just came to NJ to rally for the Dem. right before this news is broken. He's (the Dem. incumbent) is trying to get "urban" votes. While I hope the Nets end up in Newark at the Prudential Center, I want (and believe it should be) a long-term deal, not a waystop on the way to the Brooklyn boondoggle.

Lastly, regarding the NJSEA - I think the next Gov. will likely dismantle that entity come early next year. I can't say for certain, but there have been rumors in NJ about that for the past year. The truth in this whole Newark/ Brooklyn argument is that it has never been about Newark v. Brooklyn - it's the NJ Meadowlands v. Newark, NJ. Hopefully, the right decision will be made and Nets fans can finally go back to worrying about their team and not where they'll play. Thanks!

As a taxpayer I am appaled that the Devils (and others who have political axes to grind, hint-hint) keep crying the same tune...the IZOD Center is a drain on taxpayers, let's raze it. Excuse me...the Meadowlands Arena was here first...and those of us who patronize it are have no sympathy for the idiots who thought that building an Arena in Newark makes sense!! I am doubly incensed that each time I fly in and out of Newark Airport I am forced to pay for an Arena that I had no say in building!!! The Newark Housing Authority was merely the vehicle for funneling my taxpayer dollars to build the Devils their palace. The funds themselves came from monies generated by a land lease of Newark Airport between the Port Authority and the city of Newark.
However, instead of putting that money to good use for police, firefighters and schools, the city forked over those funds for the Devil's arena. And yet, Newark firefighters and city employees are being furloughed and laid off for lack of funds.....only in New Jersey, folks!!!!!

As a Nets fan I will continue to go to see them play at the IZOD Center, but I won't step foot in the Newark arena. I PREFER to watch sports at the Meadowlands, as well as attend concerts and take my kids to see Disney-on-Ice at the IZOD Center. Besides....where can I tailgate with friends in Newark?? In the immortal words of Homer Simpson, "DOH!!"
Did Sharpe James ever think about that when abscounding with our taxpayer dollars to build his "legacy"?? OH, I forgot...we are supposed to "tailgate" at Mr. Vanderbeek's pubs and restaraunts inside of the Newark arena!! That's the in-thing these days in the sports realm...making more money by conning the fans into thinking that they need not tailgate outside any longer...come inside and plop down your hard-earned dough at our overpriced restaruants and make believe that you are "tailgating"!!

This is entire concocted "Arena Wars" which the "Newark Star Ledger" seems bent on perpetuating to sell papers is in actuality their Editorial Board cowtowing to the rich owners of the Devils. Frankly, this dribble is ONLY about one thing...GREED. A hockey team owner CONSTANTLY crying about the "competition". The competition being the NJSEA, which has every right by state statute to exist to give New Jersey residents a viable option for entertainment. The Devils' inside game is to pressure the state to force Ratner to move to Newark... then they can then turn around and illogically say, "There is no more need to keep the IZOD Center open, they don't have an anchor tenant anymore". What nonsense!!!
Mr. Vanderbeek, buy a clue...its the American way and its called the capitalism!!!! I believe that it's worked pretty well for nearly 233 years in this country of ours.

Only in New Jersey are there such morons that would want to keep open a dilapidated arena in the middle of a swamp when there is a state of the art and glamerous arena only 10 miles away which is right next to a mass transportation hub and next to a thriving and upcoming commercial hub.

Bergen County residents need to realize that the Prudential Center is a zillion times nicer than I-Swamp and it is a zillion times easier to get to for the vast majority of people in New Jersey and New York.

Give it up Bergen County folks, what is best for our great state is to knick down the old Brendan Byrne (and the failed Xanadu fiasco) and pave it over for additional parking for Giants/Jets games.

I-Swamp is a DRAIN on us taxpayers and part of the Democratic corruption scheme.

I think Morpheus is overstating the importance of the NJSEA on the NJ Governor's race but I do see his larger point. The NJSEA has barely come up in this campaign, as neither Chris Christie nor Chris Daggett have criticized the incumbent Corzine over that agency and I hardly think voters will base their decision on whether the NJSEA stays or goes. Still, the campaign has been largely about corruption and the generally ineffective handling of the state agencies by Gov. Corzine, so I can see how this fits the larger themes echoed by the candidates.

As for the Izod Center, I don't understand how folks both complain about it being a drain on taxpayers and advocate for its removal. The reason why the Izod Center does poorly is not because of annual upkeep costs, but because of the financing deal it is under. At least having it as a concert venue allows it to pay for some of that. If you raze it, it's not generating any money and you're stuck with a bunch of debt and no asset. And selling it is off the table, as the economy in New Jersey is so bad that no developer would pay for any serious amounts of money to purchase it, much less to redevelop it. Holding onto it makes the most sense from a financial standpoint for the NJSEA and Bergen County.

I do agree though that the whole Newark/Meadowlands fiasco was downright silly. There was no need for Newark to build that stadium with another competing facility so close by, and Sharpe James was rightfully kicked out of office for that one (amongst many others). It's very similar to the situation between Minneapolis/St. Paul, where Ramsey County and St. Paul built a brand-new arena for the Wild while the Target Center was already across the river in Minneapolis/Hennepin County. Now the Target Center, which has lost all the high school indoor state championship games, countless concerts, and a presidential convention to St. Paul, is digging for revenue, with the very real threat that the their only main tenant in the Timberwolves may leave Minnesota down the road. That still makes me angry.

Give me a break, "Mr. Implode"! Are you kidding us...that the Newark arena is a "zillion" times easier to get to than the Meadowlands? HAH...the turnpike has a direct exit and entrance into the Meadowlands Sports complex. And we took a train in and out of Giant's Stadium when we went to the recent U2 Concert. It was a breeze getting to and from the show!!
It appears to me that you are one of many who blog onto these websites to denigrate the IZOD Center and keep hyping up the Newark arena. Somehow you think that if you put out enough negative information people will start buying it. Guess what pal, people are onto you...you and your kind are not fooling anyone. And by the way, I live in nowhere near Bergen County and enjoy going to the IZOD Center. I agree with bergen4ever's post, however...I will NOT set foot in the Newark arena.

Implode, you call the Meadowlands Arena a "dilapidated arena." Um, no. It's less than 30 years old, and it's aged pretty well. The teams want out because of relentless greed and stadium envy. It doesn't make money? Well, name one stadium that does.

This is a ridiculous situation. Could the Newark arena break even with the Nets? Big question mark. Are there enough concerts and special events to help the Meadowlands Arena balance its books? Not a chance. But that arena is here to stay for the same reason Xanadu got started in the first place. Rather than fight the Newark arena, the Republicans in Bergen County demanded their share of the make-believe bottomless pie. It's a race to the bottom.