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Assuming an arena for the Nets ever gets built in Downtown Brooklyn, it will bear the name of Barclays Bank. The Post is reporting that the Nets and Barclays have reached a record setting, multi-year agreement for the naming rights of the proposed arena. No specific dollar amount was mentioned in The Post's article, but it does say that the rights will cost Barclays more than the $9.3 million-a-year figure that Philips is paying for the rights to Philips Arena in Atlanta. The article also says the deal "blows away" Prudential's agreement of $195.3 million over 20 years for the new Devils arena. The Barclays Center deal will be for 20 years and will be the most ever paid for the naming rights of an arena. It doesn't seem like it will be the richest deal ever, as that title still belongs to the $400 million agreement between the Mets and Citibank for Citi Field.
Why is Barclays buying naming rights when they don't even have any locations in New York? According to The Post, "the Nets deal allows Barclays to put a major flag in the ground in its U.S. operations and could be viewed as part of grand expansion plan." It's a good thing that they don't have any operations in New York, because with the amount of opposition to the Atlantic Yards project, they would certainly be subject to boycott. Maybe the Nets can use some of Barclays money to grease the wheels to finally get Bruce Ratner's project built.
The Nets and Barclays are expected to announce the deal tomorrow during a press conference at the Brooklyn Museum.
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Oh my lord, that arena is going to be huge.
I think this Brett Yormark guy is good.
Barclay's does have "locations" in New York... not retail/consumer banks, but they do have investment banking and I believe sales and trading. just a little FYI to help your facts...
I hope the name it the "SLAVE EMPORIUM" Since that's how Barclay's made their oh so...noble money.
I hope they name it the "SLAVE EMPORIUM" Since that's how Barclay's made their oh so...noble money.
Typo re-post.
haha im sure barclay is glad they dont have baking centers, a boycott by a whopping 15 people would really cripple them.
Has anyone from Gothamist ever set foot in Brooklyn? Is the intersection of Atlantic Ave. and Flatbush Ave. "Downtown" Brooklyn as is stated above? It certainly isn't now, but with the monstrosity that is the Atlantic Yards project, God knows how far "Downtown" Brooklyn will extend. If purportedly informed people like those at Gothamist don't know Downtown Brooklyn from Prospect Heights how does a civilized and informed debate on urban planning in NYC take place?
The arena is a smokescreen to build luxury condos. Ratner should go back to Cleveland and the Nets should play in the nice new arena being built in downtown Newark which will not be a Ghery monstrosity.
If one were to boycott any business involved in or profiting from the slave trade more than a century ago, then one would have to boycott himself right out of NYC. Slave labor was an essential component in the establishment of New York and slavery was an underpinning of the city's economy until Emancipation. I believe at one point, NYC had the second-highest rate of slave ownership per capita in America, following only Columbia, SC. There are few clean hands if one cares to look back far enough.
If it makes anyone feel better though, they can bank at The Bank of New York. It was founded by Alexander Hamilton, who established one of the first abolitionist organizations in the country.
Luckily, for a better Barclays sponsored product there's always the Premiership!
the Knicks should have already been relegated if this brainless country actually put the almighty dollar, especially if it comes from taxpayers' pockets, to good use. And the Premiership actually outdraws the NBA in terms of revenue when you look at the finances...
What exactly are you babbling about? Relegating the Knicks to what? The NCAA? There is no other (minor) league unlike British football.
Basketball sucks period. On that we probaby agree.
Boycott? If boycotting Barclays Bank should be as successful as the boycott of Brooklyn Brewery, then Barclays has nothing to worry about.
Spot of tea at the hoops match, mates?