Early last month Giants co-owner John Mara told the NFL if they did not provide $300 million toward the new stadium one would not be built. The biggest problem was that the NFL had never loaned a team(s) more then $150 million toward the construction of a new stadium. After a month of negotiating they have finally come to an agreement and the NFL will in fact loan the Giants [and Jets] $300 million toward a new joint stadium.
"It's absolutely important to have a world-class facility in the No. 1 market for the NFL," Commissioner Roger Goodell said after the meeting. "In New York, there's a lot of competing facilities being built, and it's important for us to keep up with the other sports in the New York area."I am glad Goodell feels that way because it's been a long time coming for the Giants and Jets to get a new stadium. I am a little disappointed that they will remain in New Jersey rather then coming to New York but a new stadium will be good for both teams and the city nonetheless.
The construction on this stadium will begin in the spring and is set to open up in 2010. It's expected to have somewhere between 82,500 and 84,000 seats and the final cost will be around $1.2 million.
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