The Giants filed a claim in U.S. Bankruptcy Court to try and recover $301.8 million they believe they are owed by Lehman Brothers, the investment bank that filed for bankruptcy in September 2008.
According to the Wall Street Journal, Giants Stadium LLC., a company created by the Mara and Tisch families, believes that they are owed the money as a result of derivatives contracts they had with Lehman. The money was earmarked to help pay for the construction of their new stadium, planned to open in 2010, but the contracts were terminated when Lehman went belly up.
A spokesman for the Giants refused to comment about whether or not the cancelled derivatives contracts would have an impact on the completion of the stadium.
The Giants have been trying to sell personal seat licenses to help cover their end of the financing for the $1.6 billion stadium that they’ll share with the Jets, but they’ve exhausted their once voluminous waiting list this summer in search of interested buyers.
Hah!
Good luck with that.
Suckers……Ralph Wilson gets paid a lot of money to play games in his stadium.
Then again the Bills fans are suckers because Ralph “Burns” Wilson won’t freaking out a good team on the field.
That’s a whole lotta PSL money. No wonder they’re so damned high.
The Giants have been trying to sell personal seat licenses to help cover their end of the financing for the $1.6 billion stadium that they’ll share with the Jets, but they’ve exhausted their once voluminous waiting list this summer in search of interested buyers.
All the Giants have to do is put the Steelers on the schedule and their fans will buy them.
Barry will own football teams next. Swell.
It’s a good thing the Giants also made that deal to purchase the Brooklyn Bridge.
Be sure to tune in next week for another exciting episode of “Millionaires Gone Wild”
And in two years, the Giants will be trying to recover $97.5 million from one of the Manning Brothers.
PSL’s are a total scam and I’m glad the Giants are facing this problem after trying to gouge the fanbase with that garbage.
Ha! Maybe the Gints can recover that money from the U.S. Government Banking System.
PSL? Pfffft! That’s why I am no longer on “The list”.
20k for one PSL
Go for it, chumps. Snap ‘em up
PSL’s are the worst thing to happen to sports
# Jaydub says: August 27, 2009 8:42 PM
20k for one PSL
Go for it, chumps. Snap ‘em up
PSL’s are the worst thing to happen to sports
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Jerry Jones & his $90 pizzas beg to differ.
@chitown
You seem to be confused. Actually, it is the Chicago Teddy Bears who suck, year after year after year after year. The perfect team for Cry Baby Cutler. Just do not make him mad, he will start crying and run home to mommy!
Sniff sniff sniffles…. poor millionaires. It’s so hard being filthy rich now days. Maybe they can get a job at WalMart and make up some of the difference.
PSL’s, the NFL’s way to screw fans that have had season tickets for years.
Squeezing a little more $$ from the long time ticket holders…what happens when there is nothing left to squeeze?