Mayor of City and Governor of New York
Welcome Jets Home
March 25, 2004
"This stadium does not belong to the Jets. We will use it nine or ten days a year. This stadium belongs to the people of the city of New York. They will decide its ultimate use, all year round. It is the people's stadium."
-Woody Johnson in post-conference interview
Mayor Michael Bloomberg, along with Governor George Pataki, representatives of major unions, the President of the New York Jets Jay Cross, and Jets owner Woody Johnson made it official today, at a press conference held at the soon-to-be expanded Jacob Javits Convention Center- the New York Jets are returning to the island of their birth, Manhattan.
The City, State, Mass Transit Authority and the New York Jets Football team have all signed on the dotted line on the Memorandum of Understanding. The cost of the stadium construction is to be privately funded by the New York Jets, with the city paying for the decking of the Long Island Railroad train yards (although the Jets would fund all initial studies and planning required for such decking, to be reimbursed upon completion) and the retractable roof. If New York is selected as the host city for the 2012 Olympics, the Jets have agreed to modify or construct the roof to Olympic needs, being reimbursed after the games by the 2012 Organizing Committee or a third party identified by the committee.
Mayor Bloomberg made it clear during the press conference that the city would not be liable for any cost over-runs, but would benefit if the final tab came under the stated price.