Late Friday, the state filed papers in Bergen County Superior Court, Hackensack, relating to the dispute. At issue is the Giants' current lease, which runs through 2026. One of the terms of the lease is that the NJSEA provide the team with a "state-of-the art" facility. Giants officials say the 29-year-old venue is no longer state-of-the-art, which could void the lease and allow the team to move elsewhere.
An earlier alternative to the proposed $700-million new stadium was an upgrade of the existing 29-year-old venue. The Giants have said it would cost $300 million to accomplish an upgrade, including luxury boxes and a variety of amenities. The NJSEA has countered that it would cost about $100 million.
In the papers filed Friday, lawyers representing the NJSEA asked the court to clarify "state-of-the-art" as it relates to the terms of the lease and to bar the team from breaking its current lease. The state also charged that the cost of proposed new stadium was "onerous and unfair" to taxpayers.
Officials from both sides declined to comment, citing the legal action.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
