January 19, 2007
Barclays Bank Gets Naming Rights to New Jersey Nets' Brooklyn Arena
The planned Brooklyn arena, future home of the New Jersey Nets, will be named the Barclays Center after British-based Barclays bank.
Rumor has it that the bank paid in excess of $300 million for naming rights, possibly even $400 million. However, Barclays PLC president Robert Diamond has said the exposure his bank will get in New York is well worth it as “Building our brand in the U.S. is very, very important to us."
The Brooklyn Record reported that "there are a lot of people out there who are already thinking up nasty nicknames for the place...but as far as arena names go, Barclays Center has kind of a nice ring to it."
The Barclays brand name does have an upscale sound to it. It could be worse, the Brooklyn Record added, "In a world where the poor Chicago White Sox have to play at U.S. Cellular Field, and the New England Patriots hold court in Gillette Stadium."
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