As Atlantic Yards Gets Pricier, How Much Red Ink Can Ratner Absorb? (Village Voice/Runnin’ Scared)

More revelations about the Atlantic Yards arena deal, plus some hint of how the Nets themselves will fare in Brooklyn:

Uberdeveloper-turned-Nets-owner Bruce Ratner better have some good meds, because this is rapidly shaping up to be a month of rapid mood swings for him and his Atlantic Yards project. While Tuesday’s granting of a desperately needed investment-grade rating for the Nets arena bonds must have been a sigh of relief for Ratner, since then he’s been pelted by less-good news that promises to take chunks out of his wallet:

  • The record-setting $20 million a year naming-rights deal agreed to by Barclays back in 2007 turns out to be worth only $10 million a year and change… [read more]