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'Billboard Lounge' to replace 'The Vault!'

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K & Co.

"The Vault" is no more.

The much ballyhooed, Jay-Z inspired "fan cave" will be replaced by next season with a new "Billboard Lounge," sponsored by Billboard Magazine and Billboard.com, the music brand.  Barclays Center and Billboard announced the move Wednesday, heralding the plan for a 5,500 square foot space that will hold up to 300 patrons. It didn't note that the "Billboard Lounge" will be located in "The Vault" space, but an arena official said that indeed the "Billboard Lounge" will "replace" "The Vault."

A joint press release from Barclays Center and Billboard described the lounge this way...

"It will radiate sophisticated glamour with a gold-and-maroon color scheme, custom banquette seating, warm wood finishes and a Billboard-designed music theme. An expanded bar, elegant cocktail tables, and private hospitality studios nestled in the back will create a one-of-a kind club inside Barclays Center. The menu, created by Barclays Center’s food and beverage partner Levy Restaurants, will feature signature cocktails and a specialized selection of small plate foods."

Billboard and Barclays Center will also curate live programming that will include artist showcases, product launches, industry speaking panels and special performances, according to the release.  Nets and Islanders "premium" season ticket holders will be able to purchase memberships.

There was no mention in the release of what will happen to the 11 suites that surrounded the bar at "The Vault" but a Barclays official said some will remain and be updated to become "private hospitality studios." Others will be incorporated into the "Billboard Lounge" space, which will be larger than "The Vault's" lounge. Billboard in its story on the lounge noted the presence of "private suites nestled in the back" of the lounge.

"The Vault," located next to the Calvin Klein Courtside Club. It had no access to the court, but those who leased the suites received courtside seats as part of their arrangement.

One of "The Vault suites was reserved for use by the arena's two owners, Mikhail Prokhorov and Bruce Ratner, while  others went for $550,000 each per year with a three year guarantee. Jay-Z leased one of the 11 but it's been reported that the arena never sold out the suites.