Barclays, the British financial services company claims to be a “proud partner in Brooklyn’s renaissance.”
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.