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Barclays Center a Money Loser for New York, Says City Agency

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The city's Independent Budget Office, which four years ago said the Nets' new arena would have "modest net positive fiscal impact" on New York City, has changed its analysis. The IBO cautions it's still updating its numbers on the Barclays Center, but suggests that "net positive" has turned negative, in large part because of increasing city subsidies to the arena. They've doubled from $100 million to $205 million.