• Loading stock data...
Saturday, July 19, 2025

Barclays Center Finances Struggling In Competitive NY Arena Market

  • Brooklyn venue faces fierce competition in crowded New York market
  • Small operating profit not enough to overtake depreciation, amortization costs
Vincent Carchietta-USA TODAY Sports

The highly crowded New York-area arena market continues to deliver a financial crunch to Brooklyn’s Barclays Center.

Facing competition for events and fans, not only from Manhattan’s Madison Square Garden and New Jersey’s Prudential Center but now Long Island’s UBS Arena, Barclays Center reported a $76 million loss for the fiscal year ended June 2023. The audited and newly released figure is on top of a $78 million loss for the prior fiscal year.

The arena posted an operating profit of $16 million in the most recent fiscal year and $14 million the year before, but that was offset by fierce battling for event bookings among the four arenas and ultimately was not enough to overtake 2023 depreciation expenses of $19.9 million and amortization expenses of $51 million.

In addition to the venue competition, the building received no fiscal favors from the primary tenant and building operator, the NBA’s Brooklyn Nets. The Nets have been been swept in the first round of the NBA playoffs the past two seasons and have hosted only four total playoff games in that time.

Barclays Center is owned by the state of New York, but the operating rights are held by a company led by Joe Tsai — part of his then-record $3.2 billion purchase of the Nets in 2019. The WNBA’s New York Liberty, who face the defending champion Las Vegas Aces in the Finals starting Sunday, are also owned by Tsai and play at the arena.

The latest financial report — a required filing since public bonds were used to finance the building’s construction — also detailed $99.1 million in total revenue during the fiscal year.

With the ongoing losses, equity in the building has steadily fallen to $138 million from $196 million a year ago and $236 million in June 2021.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Netflix Beats Projections Again—and Plots Big Holiday Sports Slate

The streaming giant again beats analyst projections in every respect.

Cleveland’s WNBA Team Follows Golden State’s Proven Blueprint

The franchise will play its first WNBA season in 2028.
Jul 15, 2025; Cumberland, Georgia, USA; National League designated hitter Kyle Schwarber (12) of the Philadelphia Phillies hits a home run in the swing off of after the 2025 MLB All Star Game ended in a tie at Truist Park.

MLB All-Star Game Viewership Dips Despite Historic Swing-Off

Game viewership falls 3% despite late dramatics in the unique tiebreaker.
The 153rd Open

Trump Talks Continue, but Turnberry’s Open Return Is Uncertain

Trump Turnberry is still under consideration for future Open Championships.

Featured Today

Ryan Field Construction
exclusive

First Look Inside Northwestern’s $862 Million New Ryan Field

Five big things FOS learned on our exclusive stadium tour.
Jul 21, 2024; Ayrshire, SCT; Xander Schauffele celebrates with Claret Jug after winning the Open Championship golf tournament at Royal Troon.
July 17, 2025

The Boozy History and Traditions of The Open’s Claret Jug

The Open awards the world’s most famous wine decanter.
2025 PDC World Darts Championship Final - Luke Littler vs Michael Van Gerwen
July 16, 2025

A Teen Darts Prodigy Is Becoming Bigger Than the Game Itself

Luke ‘The Nuke’ Littler is cashing in on his devastatingly accurate shot.
May 31, 2025; Philadelphia, PA, USA; Sydney McLaughin-Levrone (USA) reacts before the women's 100m hurdles during the Grand Slam Track Philadelphia at Franklin Field
exclusive
July 13, 2025

Track’s New Money Is Running Into Old Problems

The sport’s big-money era has hit some speed bumps in 2025.
Josh Donaldson

Josh Donaldson Seeks Another $70K in Landlord Dispute

Donaldson rented the house while playing for the Yankees in 2022.
April 19, 2022; Austin, TX, USA; Tim Leiweke of the Oak View Group speaks at a ribbon cutting ceremony for the Moody Center, a multi-purpose arena that will be home to concerts and the UT basketball teams on Tuesday April 19, 2022.
July 9, 2025

Oak View Founder Tim Leiweke Indicted for Alleged Rigged Arena Bid

The longtime sports executive leaves his day-to-day leadership role.
Oct 27, 2024; Philadelphia, Pennsylvania, USA; A general view of the Wells Fargo Center before game between Philadelphia Flyers and Montreal Canadiens.
July 10, 2025

New Philly Arena Will Redefine Home-Court Advantage, CEO Says

The forthcoming venue will arrive with plenty of ambition among its owners.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

Dealmaker Jeffrey Kaplan maps the evolution of sports as an asset class
July 9, 2025

Browns $600M Stadium Deal Hit With Suit Over ‘Unclaimed’ Money

Ohio’s use of unclaimed funds for a new stadium is challenged legally.
July 8, 2025

Chiefs Delay Stadium Decision As Kansas Dangles Dome Dreams

Kansas legislators extend bonds for potential Chiefs and Royals facilities.
Jul 3, 2022; London, United Kingdom; Jannik Sinner (ITA) returns a shot during his match against Carlos Alcaraz (ESP) on day seven at All England Lawn Tennis and Croquet Club.
July 7, 2025

Wimbledon’s Expansion Battle Looms Over Star-Studded Quarterfinals

The expansion’s loudest opposition is Save Wimbledon Park.
July 2, 2025

Commanders’ $3.8B Stadium Deal in Jeopardy? Mayor Sounds the Alarm

Political tensions rise about delays in stadium funding approval.