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November 16, 2007
Will Barclays' Bleeding Affect The Atlantic Yards Project?
Pardon Me For Asking
Pardon me for asking, but will the fact that Barclays Bank has accumulated £1.3 billion in losses in the past 3 months alone have any impact on Bruce Ratner's Atlantic Yards Project?
The giant financial institution after all is willing to buy into Ratner's deal by paying the largest amount ever forked over in a stadium deal just for the pleasure of having the Brooklyn Nets home be named "Barclays Arena."
Now, the bank's losses seem pretty remarkable to me. Note that the sum is in British Pounds, not U.S. Dollars.
Could this derail Brucie's sweetheart deal? After all, how can the bank justify forking over all this money if they are bleeding? Or have they already signed everything and can't back out?
Can anyone better informed enlighten me on the subject?
Posted by steve at November 16, 2007 5:56 AM