Jets president Jay Cross has already said the NFL franchise would present “a competitive bid” by the March 21 deadline set by the Metropolitan Transportation Authority (MTA), the organisation selling the development rights, or air rights, at the Hudson rail yards on the far West Side of Manhattan.
Madison Square Garden, owned by Cablevision, has offered $600 million, less the cost of erecting a platform over the 13-acre rail facility.
There’s also a third interested party, TransGas Energy, that offered $700million; but because of strings attached to the bid this proposal is thought unlikely to qualify according to the New York Sun.
When the International Olympic Committee (IOC) Evaluation Commission visited New York last week, it indicated that the West Side stadium site would be a critical factor in its deliberations for the 2012 host city.
Bidding for the West Side development rights closes on March 21 and the MTA is expected to vote on the sale at its March 31 meeting.
Should the Jets buy the rights for the site the Empire State Development Corporation, New York’s economic development arm, and the Public Authority Control Board, will still have to approve the project.
