Eleven percent drop in ticket revenues in FY 2025 lowers Barclays Center's total revenue, but results still point to modestly profitable year.

In a modest retreat after a previous solid year, the Barclays Center operating company recently disclosed that it  earned nearly 11.5% less in ticket sales in Fiscal Year 2025 (ending June 30), than in FY 2024, which had been a big improvement over previous years.

As shown in the screenshots below, based on reports to bondholders, ticket sales reached $181.2 million in FY 2025, compared with nearly 204.7 million in FY 2024 and $114 million in FY 2023. That's about an 11% drop.

All told, the arena company grossed $202.6 million in cash in FY 2025, versus $226.2 million in FY 2024. (That's not all revenues.) 

While arena backers like to brag that it's the world's third-highest-grossing arena in the world, gross does not equal net and, as explained below, the results point to relatively modest profits.

Suites and sponsors

Suite and sponsor installments in the past year were essentially static, reaching $21.4 million, a tiny drop from $21.6 million in FY 2024. The latter was a drop from $26.8 million.

It's likely that, in both years, revenues were constrained by construction of new clubs and seating areas. The numbers also may camouflage expiring or lower-value sponsorship deals, given the Brooklyn Nets' struggles.

As I wrote last year, it's not clear how much the growth in revenues should  be credited to a more robust concert/event schedule, boosted by the return to ticketing partner Ticketmaster (allied with promoter Live Nation), more fans attending New York Liberty games, rising ticket prices, or all of the above.

Also, some variation likely depends on whether some specific popular acts are touring each year.

What about profits?

The arena operating company--remember, the venue is, nominally, publicly owned--disclosed that, in the second half of FY 2025, it earned nearly $67 million in revenue and had $53.9 million in expenses.

The net revenue was thus barely $13 million, a drop from $18.7 million over the same period in the previous year.

In the first half of FY 2025, as shown the second screenshot, the arena earned $77.8 million in revenue and had $58.3 million in expenses.

The net revenue was thus nearly $19.5 million.

Note that cash receipts exceed gross revenue because, well, there are other financial arrangements, such as the share of ticket sales, that are not explained.

Modest profit coming?

A total of $32.5 million in net operating income represents a drop from last year's $38 million, which was a significant $21.5 million increase over the $16.5 million in the previous fiscal year. 

Last year, after the audited financial results were reported, the numbers were slightly different, with net revenues of some $35.8 million. That, in my very unofficial calculation, represented a modest profit of some $15.5 million after bond interest was subtracted.

 (That said, the numbers are fuzzy, given that amortization and depreciation enforce paper losses.)

Despite the drop in net revenue in the past fiscal year, the arena company should still be modestly profitable. We'll learn more in early October, most likely.

Remember, though, scarce sports franchises remain coveted, so their rising value well exceeds their profitability or the profitability of the venue.