It’s a little tough to judge the financials of the Barclay Center on its own — buildings tend to have much higher expenses the first year (marketing is higher, for example) plus the real purpose of the arena is to anchor a full scale commercial and residential development around it. The Atlantic Yards is what can make the developers — which now includes Nets owner Mikhail Prokhorov — money in the long run.
Still, in the short run the arena is not doing as well as expected.
That’s the report from the Wall Street Journal, with Nets Daily providing some detail for us.
Eliot Brown of the Journal writes that the arena will produce about $26 million in operating income in its first year, 2/3rds of the $76 million projected … and less than what the arena has to pay out to its bondholders.
Forest City Enterprises which owns 55 percent of the arena operating company attributes the shortfall to the opening costs, “to make a big splash in the first year, investing heavily in marketing, customer service and securing top acts,” writes Brown. Indeed, the arena has been the nation’s top grossing venue for concerts and family shows through the first three quarters of year one … and second in the world.
This will have no impact on the Nets — they are the star tenant of that building and Prokhorov is showing he is willing to spend on them.
He gets the big picture, that he’s going to make his money on the real estate end of this deal once the residential/commercial area of the Atlantic Yards takes off. The Nets are part of what makes that area attractive. He can afford a few losses along the way to get it up and running.
Rodney Hood got the Jazz to overtime.
Gordon Hayward took it from there.
This extends Utah’s win streak to eight games and snaps a 10-game losing streak in Dallas. The last time the Jazz won in Dallas? Mavericks guard Deron Williams started – for Utah.*
*Those Jazz brought Paul Millsap, Kyle Korver and Wesley Matthews off the bench. Dang
Up three points and the final seconds winding down, the Mavericks had a great chance to intentionally foul Trey Lyles (a 62% free-throw shooter) with his back to the basket.
Instead, they allowed Rodney Hood to hit this shot and get the Jazz to overtime.
The Bucks led the Celtics led the Bucks by 19 in the fourth quarter and four in the final minute.
But Boston completed its comeback when Jerryd Bayless committed a boneheaded foul on Kelly Olynyk with a second left, shoving Olynyk in the back on the inbound. Olynyk sunk both free throws to tie the game.
Then, Khris Middleton got Bayless off the hook.
Middleton drew a foul on Avery Bradley, who was trying to contest the game-winning shot. The Milwaukee wing made one free throw then intentionally the second, and Jae Crowder couldn’t replicate this.
Par for the course, Gregg Popovich gave curt answers to end his in-game interview quickly.
But David Aldridge tempted the Spurs coach, asking whether he wanted New Hampshire primary results. Popovich walked back to hear the answer.
Told Bernie Sanders and Donald Trump won, Popovich shook his head.
Was that disapproval for the Democratic or Republican candidate – or both?