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January 17, 2007
NET$' NAME GAME
ARENA SETS RECORD
NY Post, Exclusive
By Rich Calder
The future Brooklyn home of the NBA's Nets will be named Barclays Center, in the most lucrative deal ever for an arena in the United States, The Post has learned.
London-based Barclays Bank has agreed to pay the Nets "hundreds of millions of dollars over the next 20 years" for the naming rights to the planned 18,000-seat arena in Prospect Heights that will house the franchise once it moves from New Jersey to Brooklyn for the 2009-2010 season, sources said.
The slam-dunk agreement is the "most expensive arena deal" in the country, exceeding the $9.3 million-a-year over 20 years that Royal Philips Electronics is paying to name Atlanta's Philips Arena, one source said. The exact dollar amount could not be learned last night.
The Nets and Barclays Bank plan to announce the agreement tomorrow during a noon conference at the Brooklyn Museum. The Nets declined comment and Barclays did not return a phone message.
NoLandGrab: There's no mention that there are still owners vowing to fight for their homes standing in the way of the "Barclays Arena."
Posted by lumi at January 17, 2007 8:53 AM