<P> MetLife Stadium is an American sports stadium located in East Rutherford, New Jersey, 8 miles (13 km) outside of New York City . It is part of the Meadowlands Sports Complex and serves as the home stadium for two National Football League (NFL) franchises: the New York Giants and the New York Jets . The stadium is owned by the MetLife Stadium Company, a joint venture of the Giants and Jets, who jointly built the stadium using private funds on land owned by the New Jersey Sports and Exposition Authority . The stadium opened as New Meadowlands Stadium in 2010 . In 2011, MetLife, an insurance company based in New York City, acquired the naming rights to the stadium . At a construction cost of approximately $1.6 billion, it was the most expensive stadium ever built, at the time it opened . </P> <P> MetLife Stadium is the only NFL stadium shared by two clubs since the 2000s . Los Angeles' Staples Center, which is home to the Clippers and the Lakers of the National Basketball Association (NBA), is the only other facility to currently house two teams from the same sports league in the United States . </P> <P> As Giants Stadium approached 30 years of age, it was becoming one of the older stadiums in the NFL . The Jets, who had been the lesser tenants at the stadium (which was called simply "The Meadowlands" for Jets games), sought to have their own stadium built in Manhattan proper, the proposed West Side Stadium . Originally intended to be the 85,000 - seat main stadium for New York's bid for the 2012 Summer Olympics, it was designed to be downsized to 75,000 seats for the Jets . However, the West Side Stadium would have required significant public funding, which collapsed in 2005 . The Jets then entered into a joint venture with the Giants to build a new stadium in which the two teams would be equal partners . </P> <P> The architects were tasked with designing a neutral stadium that would still embody the distinct personalities of both franchises . The Giants favored a traditional look of exposed steel framework and rusticated stone while the Jets wanted a sleek and modern look highlighted by metal and glass . With those features in mind the designers used the column / tower dynamic seen in many of Manhattan's skyscrapers as inspiration for the stadium's design . </P>

Why do jets and giants share a stadium
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