New Meadowlands Stadium
New York’s Giants and Jets NFL teams recently inked multiple deals to finance a new 82,500-seat home stadium at the Meadowlands Sports Complex in East Rutherford, N.J.
The new stadium is expected to open in 2010 and will reportedly cost $1.3 billion to build, which would secure it a title as the most expensive stadium ever built in the U.S., according to the New York Times. The Dallas Cowboys are working on a $1 billion stadium in Texas.
The teams each secured deals for half of the amount, with Citigroup financing $650 million for the Jets, and Goldman Sachs and Lehman Brothers taking on the Giants’ $650 million.
"We now look forward to finalizing all of the design plans so that we can deliver the best stadium experience possible to our fans and the state of New Jersey," Meadowlands spokeswoman Alice McGillion said.
Groundbreaking on the open-air stadium is expected to begin in September.