The arena would be called the Prudential Center, JeffVanderbeek, principal owner of the team, told the Star-Ledger. The18,000-seat arena might be nicknamed the Rock, after Prudential'sfamous logo, and which also describes hockey pucks.
Prudential has always been headquartered in Newark, just a fewblocks from the arena's construction site, and is one of the city'smajor presences.
The City of Newark recently renegotiated its contract with theDevils for the stadium's construction. The price has escalated fromthe original $310-million estimate, but a $365-million cap has beennegotiated as the maximum price. Newark is kicking in $210 millionfor construction, which is more than half done at this point, asGlobeSt.comreported. The target date for completion is October 2007.
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