November 15, 2008
NY State Never Sought Piece of Barclays Center Naming Rights Action
Develop Don't Destroy Brooklyn
Ratner's frivolous $950 million arena would supposedly be "privately owned" (it would be leased to Ratner for $1), yet the $400 million naming rights deal with Barclays bank (is it still $400 million?) is solely with the developer. The public gets nothing out of the lucrative naming rights deal on the arena it supposedly owns.
Norman Oder did some FOIA searching to find out if NY State ever wisely tried to get any value out of the naming rights deal. What he found was that New York State was not wise. The state sure could have used that money.
Posted by amy at November 15, 2008 10:19 AM