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Nets Announce Naming Rights Deal

The Nets have reached an agreement with Barclays Bank of London to name their new arena the "Barclays Center". Neither the Nets nor Barclays would reveal how much Barclays is paying. The Times reports the bank will pay nearly $400 million over 20 years. The BBC says it's only a $150 million deal. Even at $200 million, it would be the most lucrative naming rights deal ever for a basketball or hockey arena, doubling the deal the owners of Atlanta's Philips Center received.