Isles moving to Brooklyn in 2015 PART II *Name/colors stay*
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11-19-2012, 04:06 PM
Join Date: Aug 2005
Location: Burnaby, BC, Canada
Originally Posted by
$14m+ a yr for rent at Barclay's? Or $6m a yr?
The Post says the isles will pay more then $14m a yr in rent, while the Daily News says the Isles will pay $6m a yr in rent.
■The Daily News reports that while lease details weren’t disclosed, “the monthly rent is expected to be more than the $14 million a year the Islanders were willing to pay for a new Long Island home.” If so, that’d be a mild coup for the Barclays Center — $14 million a year comes to $350,000 per game, which should be enough to make up for any loss of concerts — though the more interesting question is how and whether the Islanders will share in proceeds from such things as concessions and sale of luxury suites, which currently all go to the arena owners. [UPDATE: As Norman Oder notes below, the New York Post projects the rent as $6 million a year, which is, obviously, a lot less.]
Well obviously the Isles saw the dollar signs when signing the Barclays lease. I really think Wang will sell the franchise to Forest City and Prokhorov after a few years in Brooklyn.
Divvying up the Isles asking price (300 to 400M) according to the arena ownership divisions shouldn't be too difficult. Prokhorvov may pay up to 180 M for the team with Forest City paying off the balance (up to 220M).
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