Jets raise offer for new stadium

By Alex Guzman  |   Tuesday, March 22, 2005  |  Comments( 0 )

New York Jets
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The New York Jets increased their bid for the rights to build a new stadium on Manhattan's West Side to $720 million. The team had previously offered $100 million for the right to build the stadium.

Metropolitan Transportation Authority (MTA) officials are expected to decide on 3 viable offers for the property by March 31.

The team's proposal surpasses a previous $600 million offer from Cablevision, which owns Madison Square Garden. The company has engaged in a publicized spat with the NFL and the Jets over the property. Cablevision has proposed to build residential units, a small park and a large hotel on the site.

A third remaining bidder, TransGas Energy Systems LLC, previously made the highest bid for $700 million. However, that deal hinges on several contingencies.
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About Alex Guzman

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