It's a local version of the naming rights Barclays bought for the Atlantic Yards arena (after the state gave naming rights away) and Forest City Ratner bought for Barclays at the Atlantic Avenue/Pacific Street transit hub.
P.S. 58 in Carroll Gardens has a nice new playground (right; click to enlarge). Some parents are dismayed at the signs advertising Barclays, and some aren't.
Public funds, private layer
I'd point out that, when Out2Play seeks individual donations, they don't advertise the possibility of getting your name on a school playground. That must be reserved for bigger donors.
Every dollar we raise from the private sector often translates into nine dollars in public funding. Each of our playspaces costs an average of $250,000.How much did Barclays give to P.S. 58? I haven't checked, but would note that the initial $150,000 grant was supposed to help refurbish eight playgrounds.
That's less than $20,000 a playground--pretty good if you get a sign out of it too.
One PFMA commenter wrote:
Since when do tax deductible contributions to non-profits entitle the givers to kick-backs like free advertising?Another responded:
This no different than any other sponsorship agreement; the city is looking at doing this for subway stations!Another countered:
If the school wants to sell advertising on their fence, they should simply do so publicly. How much of a donation did Barclay's make to Out2Play that entitles them to 2 billboards on a school fence (and are they permanent)? Because there may be donors who would donate far more for the same ad space. If MOST of the money to create the playground came from public sources, why does Barclay's get all the credit?Good question.