The Jets intend to move out of their existing home in New Jersey, when the lease on the Meadowlands runs out in 2008.
The state-of-the-art new venue – to be called the New York Sports and Convention Center - would generate much of its own power through solar panels and wind turbines, and be based on the West Side of Manhattan.
The NFL franchise is expected to pay around $800m towards the total cost, with the remaining $600m coming from city and state funds.
