The New York Daily News reported that the two-week delay was at the request of Manhattan Supreme Court Justice Herman Cahn, who also ordered Cablevision, the owner of Madison Square Garden and an opponent of the stadium, to put up a $35million bond by May 16.
The Jets want to build a 75,000-seat stadium that is the centrepiece of New York’s bid for the 2012 Summer Olympic Games. New York Mayor Michael Bloomberg has said New York’s bid would suffer without the stadium.
Cablevision is suing to block the deal with the Jets, claiming the team’s bid was selected even though the offer for the property was less than Cablevision’s offer.
It offered $400million upfront, compared with the Jets’ $250million, but the newspaper reports the deals are structured differently, and each side said its offer is worth more than the other.
If the Jets and the MTA win the court fight they could try to prove that they suffered from the delay caused by MSG and claim compensation from its $35million bond.
