Sale of Newark’s Bears & Eagles Stadium Brings Hopes of Revitalization

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The Bears & Eagles Riverfront Stadium in downtown Newark is going private. Lotus Equity group has agreed to purchase the stadium from the City of Newark and Essex County for $23.5 million. By transferring ownership to a private developer, the City of Newark will relieve taxpayers of the $4 million annual debt service obligation. The downtown stadium, located at 450...