For today's installment in the ongoing, and increasingly tawdry, Atlantic Yards soap opera, we cross the river to New Jersey. Why? Because the Star-Ledger (published in a city with a new arena that just has a hockey team and would love a basketball franchise) is reporting that the "Wall Street crisis puts Nets' future Brooklyn home in jeopardy." The story delves into the latest legal development, but also deals with the possible trouble of getting $950 million in financing to build the Frank Gehry arena. It notes that back in the pre-meltdown days of spring, "Goldman Sachs assured all financing would be in place for a $950 million professional basketball arena in Brooklyn by today." But, the paper went back to Goldman and got a "no comment" about the $950 million in financing "fueling persistent doubts about the viability of Ratner's plan, which has been systematically downscaled and delayed since it was first rolled out more than four years ago." Stay tuned for tomorrow's new entry in the Atlantic Yards Timeline of Despair.
· Wall Street crisis puts Nets' future Brooklyn home in jeopardy [Star-Ledger]
· Star-Ledger: Goldman Sachs mum on AY arena financing [AYR]
· Atlantic Yards Timeline Not Getting Shorter [Curbed]