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September 18, 2008
A House Marked by 8 Years of Local Financial Change Now Falls Into British Hands
The New York Times
by Patrick McGeehan
In an article about Barclays' announced acquisition of the now-bankrupt Lehman Brothers' midtown headquarters, The Times offers up a 90% discount to the British bank on its purchase of naming rights for the Brooklyn arena planned by Bruce Ratner.
Barclays has agreed to pay $40 million for the naming rights to the arena planned for Brooklyn that is supposed to be the next home of the New Jersey Nets basketball team. It would be called the Barclays Center. But long before the arena is built, there could be another Barclays center a couple of blocks north of Times Square.
NoLandGrab: The actual naming-rights price tag is $400 million, which you'd expect The Times to know, what with Ratner being co-owner of the paper's own headquarters building.
Posted by eric at September 18, 2008 1:32 PM