Wednesday, December 20, 2006

Some 225 arena events? KPMG ignores developer's own analyst

The Empire State Development Corporation stated that the Brooklyn arena would host approximately 225 events per year. The KPMG analysis done for the Empire State Development Corporation and released yesterday cites 223 events, including 44 Nets games (three of them preseason games) and 179 other events.

Is that number credible? KPMG states:
In general, the utilization estimates prepared by FCRC appear reasonable assuming experienced and efficient arena management.

Reasonable? There's no mention that the developer's own analyst stated:
The Nets project that the arena will not host an NHL team and that it will host 226 events during the year (assuming the eventual closing of CAA, no new arena in Newark, no NHL and no minor league hockey events at the Atlantic Yards arena.)

And there is already a new arena under construction in Newark.

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