With roughly a year gone for the Barclays Center, critics and outspoken fans alike are taking a hard look at the numbers — and not just the Nets wins and losses.
Despite its status as one of the premiere arenas in the country (number four, according to Rolling Stone magazine) the Wall Street Journal found that the Barclays Center will only generate a third of projected income in its first year.
The Wall Street Journal wrote over the weekend that Forest City Ratner, the Barclays Center developer, projected $76 million in operating income in its first year, but through July has only managed $19 million.
According to the Wall Street Journal, that leaves an expected income in its first year of $25 million, well short of the expected number.
A Forest City Ratner executive told the paper that the difference is a result of a much larger-than-expected outlay of cash to help the arena establish itself in its first year.
So far, though, the annual income is actually less than the arena's $29 million in debt service payments.