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September 19, 2011

Sports Business Journal confirms Barclays naming rights deal was $200 million, not $400 million

Atlantic Yards Report

Is the Barclays Center naming rights deal worth "nearly $400 million," as the New York Times reported 7/19/11 or is it closer to $200 million and change?

I pointed 8/3/11 to circumstantial and documentary evidence that the deal was worth less, including a report by an FCR-commissioned consultant valuing the deal at $200 million, the loss of architect Frank Gehry, and two renegotiations.

Nets and Forest City officials have claimed that the total value of the deal remains around $400 million, but never offered any documentation.

Now, as noted by NetsDaily, "the authoritative" Sports Business Journal is using the $200 million figure.

link

Posted by eric at September 19, 2011 3:14 PM