Newark To Build New Arena

NEWARK, NJ (CelebrityAccess MediaWire) — According to the Star-Ledger, the Newark Council voted to construct a $310 million arena for their NHL hockey team, the Devils.

The city has capped spending at $210 million, negotiating with the Devils to pay the other $100 million. Legal fees for negotiations with the Devils will cost the city $500,000. Should everything go well, the Devils could be moving out of their current home, the Continental Airlines Arena which they share with the New Jersey Nets basketball team, and move into their new arena by the 2007-2008 season.

Mayor Sharpe James claimed the arena would be “a new image for Newark” and local residents are hopeful it will increase employment and improve the city’s economy. –by CelebrityAccess Staff Writers