In an interview with a New York real estate blog, Bruce Ratner says he expects Barclays Center to be a big profit maker for him, Forest City and Mikhail Prokhorov as well. The comments are part of a lengthy profile of the Nets minority owner. He also talks about Atlantic Yards, his initiation with the Nets and his critics.
Ratner told The Real Deal that the arena will generate an estimated annual net income of about $110 million to $120 million, cost $30 million to operate, and require about $45 million to $50 million a year to pay off financing, leaving the company with about $35 million a year in profit.
"That is pretty good out of the box," Ratner said. "It will increase as time goes on." Ratner and his partners own 55% of the 18,000-seat arena and Prokhorov 45%. Under certain circumstances, Prokhorov could wind up with an even larger share, perhaps as much as 80%.
Ratner's refute - Adam Piore - The Real Deal