clock menu more-arrow no yes

Filed under:

Will the Nets Billion Dollar Arena be a "Freebie"?

New, comments

A New York Post analysis of the financing for the Nets' billion-dollar arena contends that Bruce Ratner will be able to build the Barclays Center essentially for free, with New York taxpayers picking up most of the tab. The Post reports under the deal between Ratner and the state, the Nets' owner will lease the arena from the state for $1 a year and make payments, based on arena revenue, in lieu of property taxes. It's all part of $2 billion in taxpayer benefits Ratner will receive, the Post reports.