If they go with what you have said, becuause if my memory serves me correct, there is an arena near by which is part of the Meadowlands, they could have something there. But the article just does not mentioned that.
If that happens, they will more likely invite either Billy Joel or the Boss again, because they are native NY/NJ guys.
But I can't see the NFL and the broadcast partner (Fox, next year, I believe) giving up their halftime show extravaganza -- it's too much a part of the marketing of the Super Bowl experience (which has as little to do with actual football as it can manage). They'll find a way to make it work, and it's be easy to hold the show nearby and live simulcast it.