Brooklyn's Barclays Center Not As Profitable As Projected

Photo: MK Metz

Barclays Center has showcased big names during its first year and sold tickets like hot cakes -- but according to the Wall Street Journal, financial performance has been "far from a show-stopper."

Forest City Ratner Cos., which owns the arena with Russian billionaire Mikhail Prokhorov, had projected the arena would make more than $76 million in its first year of operation. But Barclays earned only $19 million in the nine months ended in July.

While Forest City expects to cut expenses and boost income in the coming quarter, experts say boosting income will be tough.

More: WSJ
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