Barclays Maintains Ties to Atlantic Yards
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…
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.
BrooklynLove = funny
johnny = ignorance.
ratner > lisa
barclays >>>>>>>>>> dan goldstein
0-for-3 with respect to what?
i really don’t get the magical thinking that goes on here with respect to AY. it is both substantive and real that barclays has agreed to an extension. it’s a lifeline with respect to financing, and it’s also a vote of confidence in the project from a third party.
agreed,
having non-billion dollar company counterpoint is useful, if not important. especially since ratner hasn’t really put a fork in daniel yet. this is very important as daniel is one of the few not asleep at the wheel like most of brooklyn.
popularity <> right
popularity <> wrong
keep it up daniel.
Point taken…let’s put it this way…maybe nothing should be reported until there’s something real and substantive to report. The endless back and forth of Ratner (“We are going to build”) and Goldstein (“No you’re not going to build”) is pretty annoying…
Why not, FtGreeneCorey? We have to hear Ratner’s quote. We know where he stands. What’s wrong with a fair balance?
This piece is nothing but PR for either side. Pure speculation.
Why do you guys insist on quoting Gold$tein in every AY related development? We already know where he stands…AY = Bad, Ratner = Devil, Basketball = ?
It’s a press release. has all the validity of . . . a press release. Now, more than ever, FCR has to pretend it has money, backers and a grip on reality.
Lucky for us it’s oh-for-three.