October 22, 2009 - 1:26pm
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NJ Sports and Exposition Authority Must Not Release the Nets from Lease

NJ Sports and Exposition Authority Must Not Release the Nets from Lease

$8 Million Penalty for Breaking Long Term Lease Should Stand

Senator Gerald Cardinale (R-Bergen) issued the following statement regarding a report published in The Star Ledger indicating that the New Jersey Nets are considering a move to the Prudential Center in Newark. The team currently plays at the Izod Center in the Meadowlands. In order to move to Newark, the Nets would require the New Jersey Sports and Exposition Authority (NJSEA) to forgive an $8 million penalty for breaking its lease.

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WMURRAY can be reached via email at WMurray@njleg.org.

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