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June 11, 2009
Nets’ New Sponsor Comes in High Def From China
City Room
by Charles Bagli
Nets' CEO Brett Yormark isn't letting the Gehry debacle get him down — he's fixin' to announce a new sponsor. How does he do it?
The New Jersey Nets may not have gotten final approval or the financing for their proposed $800 million arena at the Atlantic Yards project near Downtown Brooklyn, but the team has rounded up another lucrative sponsorship deal, with Haier, the giant appliance manufacturer from China.
The agreement with Haier, which makes the National Basketball Association’s official high-definition television, is expected to be announced within the next several days, according to an executive who was briefed on the deal. The company will have a store within what would be known as Barclays Center, which is part of a planned 22-acre development near Downtown Brooklyn.
The Nets already have a $400 million naming rights deal with Barclays Bank. The team has also signed eight other “founding partners,” or sponsors, including Anheuser-Busch, Cushman & Wakefield, Emblem Health and Phillips-Van Heusen. There will be a Jones Soda Shoppe and a Foxwoods club. Those deals are worth more than $100 million.
The value of the Haier deal is unknown.
NoLandGrab: How does The Times know it's “another lucrative sponsorship deal” if the “value of the Haier deal is unknown?” Because Brett Yormark said so? They really ought to know better by now.
Hope this one works out better than Yi Jianlian.
Posted by eric at June 11, 2009 10:57 PM