Serious Question Arises over Brooklyn Arena Financing

[GMJ]

<div class='quotetop'>QUOTE </div><div class='quotemain'>

“Serious Question” Arises over Brooklyn Arena Financing
January 28, 2008, 10:42 am The New York Post reports Monday that continuing delays brought on by critics’ lawsuits is raising a “serious question” about Bruce Ratner’s ability to obtain financing the Nets’ new arena. Quoting an affadavit filed by a Ratner lawyer Friday, the Post reports the builders ”are likely to encounter significant difficulties and cost increases” in the $600 million arena. Ratner and New York State are trying to expedite an appeal hearing on a critics suit.

Court Trouble - Rich Calder - New York Post

Affadavit of Andrew P. Silberfein - - New York State Supreme Court</div>

 

[soul driver]

never going to brooklyn. ratner gives up, sells the team, and it folds. no more nets.

 

[GMJ]

I see this as a bump, not an obstacle. Ratner's housing developments are worth too much for him based on potential earnings. Plus, I don't know how the losses on the Nets have affected him, but I would imagine he'd have the resources and motivation to see unforeseen expenditures through.

 

[Netted]

They hope to fast track this through the courts to avoid significant costs. The affidavit mentioning this issue was filed by Ratner's lawyer. Not that big a deal, yet.

 

[bravo369]

Seriously, what is the hold up? if it's not one thing, it's another. Yankees and Mets are building new stadiums. I bet if this was the knicks, it probably would have been greenlit and sped through. Lets get this thing over with or at least cancel it and move to newark.