Barclays Center Had $50M Drop In Revenue For First Six Months Of 2020
Financials released by Brooklyn’s Barclays Center revealed revenue for the first six months of the year fell almost $50 million.
The Barclays Center is required to disclose some financial information as part of almost $500 million in outstanding bonds used to finance the arena’s construction.
The Brooklyn Nets had nine regular season home games remaining on its schedule when the NBA season was suspended.
Barclays spent $31.2 million, or $2.1 million more than it took in as revenue. Arena ticket revenue fell from $29.3 million to a mere $28,700.
Joseph Tsai has pledged unconditionally to meet the arena’s debt service, the ratings agency Moody’s said in a 2019 downgrade of the arena’s debt.
