Sunday, September 18, 2011

Nets expect most but not all contracted revenues in hand by arena opening

I wrote 9/8/11 that, according to the latest Forest City Enterprises press release, "Approximately 56 percent of forecasted contractually obligated revenues for the arena are currently under contract."

That, I pointed out, was up from 51% a year ago, which suggested slow progress.

Mike Ozanian of the Forbes SportsMoney blog tweeted 9/12/11, "Nets say they will not have contracts for all contractually obligated revenue when Brooklyn arena opens 9-12. Say will have 'most sold.'"

NetsDaily yesterday:
All that [progress] said, the Nets still have some challenges at the arena. Only Approximately 56 percent of "forecasted contractually obligated revenues" for the arena are currently under contract. That includes naming rights, sponsorships, suite licenses, Nets minimum rent, and food concession agreements. Only about half the 104 suites are sold. The lockout can't be helping.

No comments:

Post a Comment