Brits Buy In

Barclays, the British financial services company claims to be a “proud partner in Brooklyn’s renaissance.”
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According to The Wall Street Journal, the well-heeled Brits are dropping $300 mil on the naming rights for the future home of Nets basketball.
Barclays Center, at the Atlantic Yards in Brooklyn, is scheduled to be completed by the start of the 2009-2010 National Basketball Association season.

Robert E. Diamond, Barclays’s president, said the deal with the Nets will improve the brand recognition of Barclays’s retail and investment-banking offerings. “We knew it was time to invest more in our brand,” he said in an interview Thursday. “I don’t buy the fact that branding is only for retail products.”

Last month, Citigroup Inc. purchased rights for the new Mets baseball stadium in Queens to be called Citi Field.

About David Burn

Co-founder and editor of AdPulp. I wrote my first ad for a political candidate when I was 17 years old. She won her race and I felt the seductive power of advertising for the first time. I worked for seven agencies in five states before launching my own practice in 2009. Today, I am head of brand strategy and creative at Bonehook in Portland, Oregon.