A story on www.northjersey.com has reported that the 34-year-old Izod Center, scheduled to be the home of SummerSlam this August, may be closed by the end of this month.
The story reported that the New Jersey Sports and Exposition Authority board on Thursday will be asked to approve a plan that would move all dates in February and March at the building to the Prudential Center.
The story mentioned SummerSlam, set for 8/23, saying promoters of events after the end of March will be contacted immediately. The loss of major sports franchises was the downfall of the arena as well as opening up new faciliites like the Prudential Center and Barclays Arena.
If the decision goes through, the 1/24 WWE show would be one of the final events in the building.
Post by The Ultimate Nullifier on Jan 15, 2015 14:30:44 GMT -6
The decision to officially close the IZOD Center, which goes to a vote today, is due to the facility losing so much money that the State of New Jersey no longer seeks to run and operate the venue. The deal that is being voted on today would see the venue shutter operations for at least two years and all existing contracts for events (through March) transferred to The Prudential Center in Newark, NJ.
Should someone seek to acquire and privately operate the venue, New Jersey would be interested in that, but not until 2016, which is about the time that the American Dream Mall, which will be next to the facility, is scheduled to open.
The facility opened in 1981 and has been a regular home to professional wrestling for it's entire existence.
Post by The Ultimate Nullifier on Jan 22, 2015 11:25:10 GMT -6
Local radio ads are calling Saturday's event a "Farewell to the Izod Center." As noted earlier, the arena was originally scheduled to be the site of this year's SummerSlam, however the New Jersey Sports and Exposition Authority board officially approved a plan to shut down the arena. WWE released a statement last week noting that the company "is currently looking at alternatives," and is confident that they will find "an equivalent, if not better, option for Summerslam."