[Seat24inNJ]

Nets to play in Newark for atleast 2 years


http://www.nj.com/nets/index.ssf/201..._play_two.html

he partnership sought by the Nets and Devils is days away from being presented to the governor.

The two sides met Friday in Newark to discuss a Prudential Center lease arrangement that would be sent to Gov. Chris Christie for his review after the Devils examine the term sheet the Nets presented to them Monday.

"Obviously they’re trying to get it done as soon as possible," said one person close to the negotiation, who requested anonymity because he is not authorized to speak publicly. "But it’s not done yet. They’re hoping to get it done this week."

According to officials on both sides, the discussions to move the Nets to the Prudential Center for the next two seasons have been as amicable as could be expected, as Nets CEO Brett Yormark and Devils owner Jeff Vanderbeek "clearly have the same goals," an official said.

The lingering issue, however, pertains to the $7.5 million penalty the Nets face for breaking their Izod Center lease.

Though his predecessor was willing to waive the fee, the sports and gaming committee of Christie’s transition team last week suggested the penalty should be upheld in a 20-page document it issued.

Since then, however, the Nets have been informed the governor won’t personally address the issue until the sides agree on a lease deal.

Both sides, of course, hope he relents, and comes to accept that it would help both buildings to maximize profits by turning Izod Center into the entertainment center of New Jersey.

Completing the lease agreement is expected to "accelerate the governor’s position," which thus far has been "close to the vest," another official said last week.

Much could be riding on it, especially if new owner Mikhail Prokhorov – who is expected to take over the team soon — is not amenable to a termination fee.

Yormark would not comment on the negotiation late Monday night, other than to confirm that he met with Vanderbeek on Friday.

The New York Daily News first reported the meeting early Monday night.

The Nets played two preseason games on Oct. 13 and 21 at "The Rock," and both were surprisingly successful, as roughly 28,000 tickets were sold with assistance from Mayor Cory Booker’s office.

The team was delighted, especially upon learning that 13 percent of its patrons used rail service to attend the games. In remarks about the Prudential Center weeks later, Yormark described the facility as "terrific," with "great new amenities. The fans seem to really enjoy it." And he was encouraged that there would be a "big concentration of fans from Essex, Middlesex and Union counties, which we don’t typically draw a lot from."

The Nets plan to move to Brooklyn in 2012.