UPDATE: WWE has issued the following statement about the IZOD Center likely closing in March:
WWE is currently looking at alternatives and we are confident that we will come up with an equivalent, if not better, option for Summerslam.
ORIGINAL: WWE’s scheduled home for this year’s SummerSlam is likely to close by March. NewJersey.com reports that a vote by the New Jersey Sports and Exposition Authority board tomorrow is taking place and it could result in the venue being shot down. If that happens, the Prudential Center in Newark would take over some of the events scheduled for February and March after which the IZOD Center would completely close down.
The reason for the shut down is simple: finances. The IZOD is suffering from the loss of several sports franchises like the New Jersey Devils and the Brooklyn Nets. In addition, increased competition from the Prudential Center, the Barclays Center and the renovated Madison Square Garden means that the Center is expected to lose a lot of money by the end of the year.
WWE is set to run a house show at the IZOD on January 24th, which is likely to be the final wrestling event ever held at the facility.