Newark Ends NJ Devils Arena Row With Revenue-Share Deal

Law360, New York (February 26, 2013, 6:12 PM EST) -- The Newark City Council on Tuesday approved a revenue-sharing deal between the New Jersey Devils and city officials for Prudential Center, the National Hockey League team’s home arena, resulting in more taxes and fees for consumers and ending a long-standing development dispute at the facility.

In a joint statement Tuesday, the city, the Newark Housing Authority and the Devils confirmed that they resolved the rent dispute but declined to offer financial terms or other details in a deal that settles which entities will reap profits from...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.