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February 19, 2007
Barclays of America? shooting hoops in Brooklyn
LANzen Blog
By Neil Robinson
A British business blogger shares his insight into the Barclays naming rights deal.
No sooner had the dust settled on the recent rumours of a Bank of America takeover, Barclays has put Wall Street queuing up for tickets to its next game. In Atlantic Yards.
Barclays, one of the UK’s biggest banks, is looking Stateside for its next step up the global banking banking ladder.
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Unlike a once-a-year benefit like a marathon, a constant brand reminder like a stadium deal places the Bank’s profile in the league of CitiGroup, who sponsor the New York Mets. CitiGroup are the world’s biggest bank.
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However, Barclays will be keen to distance themselves from any association with the controversial “Land-Grab” inflaming New Yorkers over the planned re-development of Brooklyn. Brooklyn is traditionally a lower income area and not everyone’s happy. There is an active “Develop, Don’t Destroy” campaign gaining popularity.If Barclays get caught up in this and the brand is damaged rather than enhanced, could it make them a target for Bank of America’s attentions once again?
Posted by lumi at February 19, 2007 8:25 AM