New York announced a deal with British bank, Barclays, who will have naming rights added to an existing subway station. In Paris, the Metro has tried from time to time adding adverts on the outside of trains as a way of reducing costs though the public reaction has been very negative. For me, as much as I think branding can go too far, it also doesn't bother me though I wouldn't mind seeing a stronger return for the transport systems. The fact that it's a British bank or any other foreign business doesn't bother me. With the budget issues and stress on public transport is it OK or is it too much? CNN:
Renaming the Atlantic-Pacific Station is tied to the construction of Barclays Center, the new sports arena for the National Basketball Association's New Jersey Nets.
Barclays is paying developer Forest City Ratner $300 million for naming rights to this arena. Ratner, in a separate deal, will be paying the Metropolitan Transportation Authority $200,000 a year for the next 20 years to rename this commuter hub.
Authority Press Secretary Jeremy Soffin said, "Like transit systems all over the U.S. and around the world, we are facing budget deficits."
In an effort to bridge the authority's $1 billion deficit, the transit giant that oversees the operation of the city's subways, buses and rail lines wants to follow the Barclays example with stations throughout the system.
