Yormark moves the goalposts, asserts Brooklyn "sometime in calendar year 2012," claims construction has commenced
Yesterday, Nets CEO Brett Yormark offered some clarification, telling the YES network, "We will be getting into the Barclays Center sometime in calendar year 2012."
That means the 2012-13 season, I'd bet. Remember, a market study attached to the Barclays Center Arena Preliminary Official Statement (prepared by Goldman Sachs) states, "It is assumed that the arena will open in May of 2012. As such, the year ending June 30, 2012 only reflects two months of operations." And there's no revenue for 2011-12 ticket sales.
Yormark also said, "we commenced construction," but that's rather ambiguous. The developer has continued longstanding demolition and utility work, but has not had an official groundbreaking. Nor has the Empire State Development Corporation (ESDC) successfully delivered properties sought via eminent domain.
The latest ESDC Construction Update concerns railyard work, environmental remediation, infrastructure, and demolition.