Devils, Newark Reach Accord
Newark, N.J., Mayor Cory Booker and New Jersey Devils’ Chairman Jeff Vanderbeek reportedly buried the hatchet in their years-long, bitter battle over a revenue-sharing deal for the city’s 17, 500-capacity
The Newark City Council voted Feb. 26 to approve an agreement that is said to include provisions for a ticket facility fee, ticket tax and additional parking, according to a source who spoke on condition of anonymity.
An arbitrator ruled last year the city owed the Devils $2.7 million a year in parking revenue plus other payments totaling more than $15 million. That amount was about what the Devils owed the city in back rent, fees and other costs since the venue opened in 2007 and the parking dispute began.
“As partners, we have reached a resolution of the rent matter involving the City of Newark, the Newark Housing Authority and the Prudential Center,” the team and city officials said in a joint statement. “It is a significant achievement that is truly a win-win for all parties involved.”