Jets/Giants: 1 Billion Dollar Stadium Approved

[TEXANS84]

NEWARK, N.J. -- The New York Giants and Jets will receive $300 million in funding help from NFL owners for their new stadium at the Meadowlands.

The ballpark is projected to cost between $1.1 billion and $1.2 billion.

The owners approved the league stadium financing request, a loan, at the NFL owners meeting in Frisco, Texas, NFL spokesman Greg Aiello said.

"It's absolutely important to have a world-class facility in the No. 1 market for the NFL," commissioner Roger Goodell said after the meeting. "In New York, there's a lot of competing facilities being built, and it's important for us to keep up with the other sports in the New York area."

Also, Kansas City recieved grants for improvements:

The owners also approved a $42.5 million loan for renovations of Arrowhead Stadium, home of the Kansas City Chiefs.

http://www.sportsline.com/nfl/story/9857408