By Ridge Mahoney, Senior Editor

Nothing should be believed about Red Bull New York not being allowed to play in Giants Stadium, as has been declared by New Jersey Sports and Exposition Authority president George Zoffinger.

He has threatened to ban the renamed MLS team, saying the new name "insults New Jersey," although the New York Giants and New York Jets have played in the Meadowlands for decades.

"There's nothing in our lease that says anything about what the name of the team has to be," says Red Bull president and general manager Alexi Lalas.

The purchase of the team for $30 million and the promise of another $20 million being paid for the naming rights of Red Bull Arena has helped spur the project in Harrison, N.J. Construction of the 20,000-capacity facility is scheduled to being on Aug. 15. If on schedule, the facility would be ready in time for the opening of the 2008 season.

THEN AND NOW. Lalas has different views of the possible involvement of former Cosmos Franz Beckenbauer and Giorgio Chinaglia as well as the legacy of the legendary NASL team.

"I hope he will be involved with Red Bull New York," said Lalas said of Beckenbauer, who as a consultant to Red Bull founder Dietrich Mateschitz started the ball rolling for his involvement in MLS . "He's an idol of mine and a gentleman and a wonderful bridge between what happened with the Cosmos and what's happening here.

"And he's a former defender, a hell of a lot better than I ever was, that's for sure."

Of that bridge to the past, Lalas says, "The shadow of the Cosmos is still present but it's not as far-reaching as some might think. There were great negatives to the Cosmos that for the past 10 years the league has tried to avoid and learn the lessons. There were certain positives from the Cosmos; what they were able to achieve and the spectacle they were able to create.

"I would love to get to back to those a little bit. But no matter how big this league gets, we're not going to have another Cosmos. That was a brief moment in time and a wonderful moment in time."

And what of the irrepressible, outspoken Giorgio, who says he's the only person who can make professional soccer work in New York?

"Giorgio thinks we should fire the front-office staff, the players, and the coaches," Lalas says. "So as far as I'm concerned, he can kiss my ass."

PLAYERS ON THE WAY. Several teams are awaiting the completion of paperwork to announce the signings of players.

Nicolas Hernandez, a 26-year-old Argentine striker, is headed to Colorado.

"We have a lot of forwards and people haven't seen Nicholas Hernandez yet," said Coach Fernando Clavijo of Hernandez, who was acquired as a discovery player. "He can play on either side, he can play up front. He's an outstanding young striker and I think he's going to give a lot of shock to the rest of the league."

His last team was Chilean club Cobreola; he has also played in Argentina for Huracan and San Martin de Mendoza as well as Cremonese in Italy.

The Rapids and keeper Joe Cannon have agreed to a new three-year deal but with the team in Spain, paperwork is still being relayed between the parties. Still, agent Ron Waxman has confirmed the deal is done

"I'm happy Colorado is rewarding Joe by making him the highest-paid goalkeeper in the league," said Waxman, who did not reveal figures. "He's earned it and he deserves it." Cannon would have been out of contract at the end of the season and in early February balked at being traded to Kansas City. His new deal will pay him about $580,000 during the three years, according to a team source.

Former Rapids attacker John Spencer is training with Houston and his acquisition should be announced soon. He tried to return to the league last year after leaving at the end of the 2004 season but the Rapids, strapped for cash with guaranteed salaries, couldn't fit Spencer under the salary cap.

He scored 37 goals and added 17 assists in 88 games for Colorado from 2001 to 2004. He will give the club some leadership and experience in the wake of veterans Mark Chung, Ian Russell and Danny Califf leaving during the offseason.