Jay-Z Has 99 Problems: Arena Financing Is One
Forget bailing out the banks - does the government want to bail out the New Jersey Nets? The NEWARK STAR-LEDGER reports that the team’s ambitious $950 million new arena in Brooklyn is in serious jeopardy, as Goldman Sachs appears to be unable to guarantee the funds needed to finance the $4 billion Atlantic Yards entertainment complex that will house the new arena.
I know it sounds like a lot of money to mere mortals, but can’t Nets part-owner Jay Z just pay the $950 million from his “walking around” money? I mean, the guy has the technology to make the plans for the freakin’ stadium magically appear out of his hands; why can’t he just make a billion dollars appear as well?
