Continental Arena Divide

Officials at the Continental Airlines Arena at the Meadowlands in East Rutherford, N.J., are seeking a new naming rights sponsor for the building after the airline used a condition of its contract to opt out of its deal.

While the arena has housed the NBA’s New Jersey Nets and NHL’s New Jersey Devils for years, the Devils will move to Newark’s Prudential Center this fall. The Nets’ lease at the facility is up in 2012.

Officials at the New Jersey Sports and Exposition Authority will reportedly use the opportunity to seek out a more profitable deal than the $1.3 million Continental pays for annual naming rights.

"We think this is a real opportunity to improve our cash flow," said NJSEA CEO George Zoffinger.

Nets Chief Executive Brett Yormark reportedly said the Meadowlands arena’s age could keep it from securing the kind of premium deal a new facility could command, but "for the right company, it’s going to be a tremendous opportunity."