NEW YORK: UK headquartered Barclays has agreed to pay around $300 million (€231.5m; £152m) for the rights to name the new Nets basketball arena planned for Brooklyn, New York.
The 20-year agreement will see the 20,000 seat stadium called Barclays Center in a bid to to lift the banking giant's profile in the US. The project is scheduled to be completed for the 2009-2010 National Basketball Association season.
As part of the deal, Barclays will also support renovation of basketball courts and other sports facilities throughout the borough.
Data sourced from Wall Street Journal Online; additional content by WARC staff