The New York Giants and New York Jets agreed Thursday to build a stadium in the Meadowlands that would become the first NFL venue to be owned and operated by two teams.
The facility will be built near state-owned Giants Stadium, currently home to both teams and among the league’s oldest stadiums.
Specifics are to be developed over the next several months, including its new name. The teams plan to put the naming rights up for bid.
Acting Gov. Richard J. Codey, appearing with the owners of both teams in East Rutherford, N.J., said the Jets would also relocate their practice facility to New Jersey. The Jets now practice at Hofstra University on Long Island.
Jay Cross, the Jets’ president, estimated the cost would be more than $800 million, and John Mara, the Giants’ chief operating officer, figured the stadium would seat at least 80,000. The teams will split building costs and share in revenues.
Plans developed by the Giants over the last several months envision a stadium on which a retractable roof could be added, Mara said, but he noted the topic had not been addressed with the Jets. A roof would allow the Super Bowl and college basketball’s Final Four to be played there.
Mara said he hopes the facility could open for the 2009 season.
Giant cornerback William Peterson, doubtful for Sunday’s game against St. Louis, said a back injury could end his season early for the second time in three years.
Peterson said he was diagnosed with a fracture of his lower back after an MRI exam last week. The fifth-year player missed all but five games of 2003 because of a stress fracture in his lower back.
Tennessee Titan quarterback Steve McNair practiced but did not take part in all drills as he recovers from a sore right foot. McNair, whose foot was stepped on in last weekend’s loss to St. Louis, is expected to play Sunday against Indianapolis.
Three weeks into the season and more than five months after the draft, offensive guard Richie Incognito became the last player picked to sign when he agreed to a four-year contract with St. Louis. He was the second of the Rams’ two third-round picks, and the 81st overall pick out of Nebraska.