New Jersey’s Izod and Prudenial centers broker a deal

In a move to stop the two from undercutting each other to attract events, New Jersey’s Izod Center at the Meadowlands and the Prudential Center in downtown Newark have forged an agreement to share certain events. According to the New York Times, Jerold Zaro, the economics “czar” for the state, brokered a deal between the two arenas under which the New Jersey Nets will join the the Devils by moving from the Izod Center to the Prudential, and the Prudential will not compete to attract many concerts or other events. The two venues would form a partnership and split proceeds from the events held there, including a new ticket surcharge, essentially a tax of $1 for sports and $3 for other events that the state plans to impose.