Barclays, a leading global financial services company and the naming rights partner for the future Barclays Center, today affirmed its commitment to the future arena in Brooklyn and the updated timeline for a 2009 groundbreaking. The Barclays Center, which is designed by Frank Gehry, will be the world-class home of the Nets.
“Barclays is unwavering in its commitment to the Barclays Center and we are very pleased with our long-term alliance with our great partners, the Nets and Forest City Ratner Companies (FCRC),” said Gerard LaRocca, Chief Administrative Officer, Americas, at Barclays Capital, the investment banking division of Barclays PLC. “We are very excited about being part of the continued renaissance of Brooklyn and we eagerly look forward to opening night at the Barclays Center.”
“Since we announced our 20-year naming rights partnership in January 2007, Barclays has offered nothing but resolute and great support,” Nets Chief Executive Officer Brett Yormark said. “We deeply appreciate our partnership with such a well-respected and distinguished company, which shares our love for Brooklyn and our strong sense of community.”
“We are thrilled to have Barclays as a partner,” said Bruce Ratner, chairman and CEO of Forest City Ratner Companies, a subsidiary of Forest City Enterprises, Inc., and the chairman of Nets Sports and Entertainment, LLC, which owns the Nets. “The Barclays Center will be one of the most spectacular sports and entertainment arenas in the world. Even more importantly, it is a centerpiece of a development that will bring thousands of jobs and affordable housing units to Brooklyn.” Forest City Enterprises (NYSE: FCEA and FCEB) has an equity interest in Nets Sports and Entertainment.
In addition to its naming rights commitment, Barclays continues to play a major role as the co-lead in the financing of the Barclays Center. Momentum for the Barclays Center continued recently when the Internal Revenue Service issued a new regulation that confirms that tax exempt bonds may be used to finance the arena.
The multifaceted partnership among Barclays, the Nets, and FCRC includes the Barclays/Nets Community Alliance, which invests $1 million per year in local non-profits that work to improve the lives of young people in Brooklyn and surrounding communities through sports and other activities, including education and health care. Last month, the Barclays/Nets Community Alliance unveiled a new playground at Public School 19 in the Williamsburg section of Brooklyn, which marked the first of eight Brooklyn playgrounds that the Alliance will fund with a grant to Out2Play, Inc., a non-profit dedicated to building and refurbishing playgrounds throughout the New York City public school system.
The Miami Herald (Michael Wallace) reports: The Miami Heat spent Wednesday’s shootaround preparing for Portland Trail Blazers center Greg Oden to make his return from a foot injury that has kept him out since the season opener. Oden doesn’t plan to disappoint Miami (4-3) when the Blazers (4-3) arrive for Wednesday night’s game at AmericanAirlines Arena. ”I’m ready. I’m excited,” Oden said after Portland’s shootaround Wednesday. “I’ll hopefully play the full game. It was my decision and it depends on how I feel. And I feel good.” Oden, the No. 1 pick in the 2007 draft, hasn’t played since he sustained a right mid-foot sprain after playing just 13 minutes in the Blazers’ Oct. 28 loss to the Lakers. He was initially expected to miss as much as a month. It has been another disappointing start to the season for Oden, who missed all of last season after knee surgery.
The San Antonio Express-News (Mike Monroe) reports: For the first time since he arrived in San Antonio in 2001, Spurs forward Bruce Bowen did not start a game for which he suited up. Bowen’s response: His best game of the season. Bowen replaced starter Ime Udoka, who started in his spot, with 2:22 remaining in the first period. By the end of Tuesday’s 92-80 victory over the New York Knicks at the AT&T Center, he had scored a season-high 13 points, making all three 3-point attempts in almost 28 minutes on the floor. Bowen, who had started all 555 of his games as a Spur, accepted his removal from the starting unit with equanimity. “As a competitor, you may not want it to happen,” he said. “It’s a matter of just being as professional as you can, and not allowing those things to affect you from the standpoint of not withdrawing from the team.”
The Golden State Warriors have hired Larry Harris as an assistant coach, the team announced today. Per team policy, terms of the agreement were not announced.
The Deseret News (Tim Buckley) reports: Point guard Deron Williams informed the Jazz this morning that he will try to make his 2008-09 NBA season debut tonight, when Utah visits Philadelphia in its second outing of a five-game road trip. “He told me he’s gonna play,” Jazz coach Jerry Sloan said after the team’s morning shootaround at Wachovia Center here. “We’ll probably play him sparingly. “You know how he is,” Sloan added. “He might want to get out there five minutes and say he feels great. But we’re gonna try to watch him pretty close.”
The Detroit News (Chris McCosky) reports: As the Pistons try to reinvent themselves with Allen Iverson and without a true point guard, the guy they might turn to for stability, once again, is Tayshaun Prince. Among the modifications coach Michael Curry is making to his offense is using Prince in the role of a point forward, initiating the offense, while Iverson and Richard Hamilton work on the wings. “Tay is going to facilitate some of our offense,” Curry said after the Pistons’ two-hour practice at Arco Arena Monday. “He will get into it with Allen handing it off to Tay. And there are other sets that Tay will start himself.” Curry worries, though, about tampering at all with Prince’s role. He has averaged 23 points the last three games.