December 8, 2009
The Barclays naming right deal may not be a record, after all; will the revised agreement get noticed by the Times, which puffed it?
Atlantic Yards Report
The most important issue regarding naming rights for the Atlantic Yards arena is why the state simply gave them away--because they were part of arena financing, an Empire State Development Corporation official said not-so-convincingly last July.
That deserves coverage. But also deserving of coverage. especially in the New York Times, is the revelation that the Barclays Center deal, once touted as record-setting, may not be a record, after all. Or, if it remains a record, it's by a fraction.
Now, however, we know the revised deal is $10 million a year for the arena plus other unspecified payments to the Nets. The total that is hardly double the deal in Atlanta and, given adjustment for inflation, may not even be any larger.
The New York Times and the New York Daily News, however, haven't reported on the revised deal, though they--especially the Times--has treated the previous deal as fact multiple times. Given the parent New York Times Company's business relationship with Forest City Ratner, some more skeptical coverage is in order.
Posted by eric at December 8, 2009 8:18 AM