Rapper Jay-Z who has less than a one percent stake in the Nets is all quiet now that the majority owner Bruce Ratner racked up a deal for the Atlantic Yards projects with Barclays …
Rapper Jay-Z who has less than a one percent stake in the Nets is all quiet now that the majority owner Bruce Ratner racked up a deal for the Atlantic Yards projects with Barclays which is a bank whose family allegedly profited from its ownership of slaves in the 18th century and was involved in controversial dealings with the South African government in the 1980’s and several chapters in human misery according to reports.
The Atlantic Yards project, which the deal was made for is stated to be an upcoming basketball arena and 17 skyscrapers, which won state approval late last year. The construction on the project is still pending until two unresolved lawsuits are cleared.
Two black supporters involved with the project questioned and scolded the owner and real estate developer about the project which is estimated at $4 billion dollars and which would include the selling of the sports venue naming rights to the Barclays.
“This agreement is insensitive and offensive,” Assemblyman Hakeem Jeffries told the Daily News. “All options should be on the table, including terminating this deal.”
The deal with Barclays is stated to be worth up to $400 million over a 20 year span. This deal would be one of the most profitable deals in sports history for naming-rights.