It would be perfectly understandable if Barclays bank decided to renege on its $400 million Nets arena naming rights deal at Atlantic Yards, opting for the out clause and attending to its other business, like sorting through Lehman Brothers’ assets and such. But yesterday, they renewed their vows to wed their name and bank account to the project, reports the NY Post and the Brooklyn Eagle. “The announcement by Forest City Ratner also said Barclays has affirmed its commitment to ‘the updated timetable for a 2009 groundbreaking,’” the Post said, and Barclays said it was “unwavering in its commitment.” (Earlier this year, they were aiming for a late 2008 groundbreaking; guess that’s off the table, now). Replied Dan Goldstein, of Develop Don’t Destroy Brooklyn: “They [Forest City] don’t have the land, they don’t have the money. I’m not sure what Barclays is committing itself to, except for a money pit.”
Bank: We Won’t Bail Out on Nets Arena [NY Post]
Barclays Reaffirms Support Of Atlantic Yards Project [Brooklyn Eagle]
Photo by June Carter Cash.