New stadium on its way

Here's a breakdown of the Giants new stadium. <b>Name: </b>To be determined through the sale of naming rights, with all money going to the team.

Seating capacity: 80,000 seats; construction not expected to begin for at least a year.

Location: Very close to existing stadium; exact location to be determined.

Projected opening: 2008, although Giants VP John Mara said 2009 is more realistic.

Cost to team:
$750 million construction cost, $6.3 million yearly in rent, taxes.

Team gets: Entire control of facility and all profits.

Cost to state: Up to $30 million in road work, $124 million in existing debt on current stadium.

State gets: 40-year commitment to keep Giants in state; up to $30 million in projected tax revenues during construction; annual rent and tax payments.

Quote: "Our present financing plans do not call for Personal Seat Licenses. Whether it'll stay that way in the future is hard to tell." – John Mara


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