By this time next year the New Jersey Nets, whose home resides in the IZOD Center, may find themselves playing in Newark’s Prudential Center.  The Nets are trying to reach an agreement between the Prudential Center and the IZOD Center in which the Nets wouldn’t have to pay $7.5 million to the IZOD Center for breaking their contract for the 2010-2011 season.

The big problem here is the IZOD Center would clearly lose revenue from the Nets but on the flip side the Nets are losing tens of millions of dollars by staying in East Rutherford.  I don’t know about you but I DESPISE going to the IZOD Center, and more than half the time I’m not even the one who drives!

To slightly even out the revenue, the IZOD Center would be awarded all of the concerts and icecapades that the Prudential Center has been getting.  In addition to that, the Nets and Devils will charge a $1 surcharge and concerts will charge a $3 surcharge that will be shared between both buildings.  This new revenue sharing will be part of a plan called ‘Jersey Presents’ where the Prudential Center will be New Jersey’s primary sports facility and the IZOD Center your concert headquarters.

It may sound a little confusing, but I think everyone would benefit from this and that includes the IZOD and Prudential Centers, respectively, as well as the fans and the teams.  Many, many more people would go see Nets games and they even plan on running package deals where Devils and Nets tickets will be sold together.  In addition, the Nets would receive a portion of sales from box seats sold at the Prudential Center.

The Nets have until December 31st to decide where they want to play next year but they are trying to get that deadline waived because the Nets obviously need more time to think about this move financially.  Hopefully the Nets choose wisely and choose to stay there instead of moving to Brooklyn, NY.

-The Basher