June 23rd, 2009
M.T.A. Sells Naming Rights to Subway Station
By Michael M. Grynbaum
The New York Times
If a $4 million deal is approved on Wednesday, the nexus of subway stops at Atlantic Avenue, Pacific Street and Flatbush Avenue in Downtown Brooklyn will add an additional name to its already lengthy title: Barclays.
This may seem odd, since Barclays is a bank based in London with offices in Manhattan, and the only Barclay Street on the city map is not even in Brooklyn. (It’s in Manhattan, in the financial district.) There will, however, soon be a Barclays Center, the sports arena planned as the focal point of the Atlantic Yards project, and the developer, Forest City Ratner, has agreed to pay the transportation authority $200,000 a year for the next 20 years to rename one of the oldest and busiest stations in the borough.
And if a company can pay to get its name on any station, a New Yorker might wonder what’s next: Coca-Cola Presents 59th Street-Columbus Circle?