Well that's just bizarre
- BINGO!
I hate the Rangers, but this is just an easy example of how these businesses make out like bandits against local government.
In NJ, the group that bought the Prudential Center got the state to shut down a competing venue (the IZOD center) for a payment of $2 Million (which they may not have ever paid). The shut down is for a specific number of years but in the agreement when the IZOD center can reopen it must received permission from the Prudential Center ownership as to what type of events it can host.... forever.
So the STATE OF NEW JERSEY is now subservient to a billionaire's private equity group which is making MILLIONS because of this loss of competition. CRAZY!
For reference:
https://www.nj.com/news/2...lose_by_end_of_month.html
The crazier part is that the Arena was stated as making money in an official report right before the shut down and then the report was reissued and they were losing money. Even recently the arena was still being used and making money for the state. It has become a popular facility for concert bands to practice setting up for shows before going on tour...