Well well this is interesting…and a must read for your Friday Night
New York Arena Partners—a partnership among the owners of the Islanders, Sterling Equities and Oak View Group—is financing the project, which will be highly leveraged, with one source putting the debt at roughly $800 million.
But three sources have told me that Sterling Equities has yet to put in any money for its share of project.
The article which you should read goes into how construction projects normally go, and this ain’t it.