Pacific Park, Brooklyn
The Barclays Center is the new home arena of the National Basketball Association's Brooklyn Nets, and the NHL's New York Islanders which was purchased by a group led by principal developer Bruce Ratner with the intention of making it and the arena the centerpiece of the whole project. This brought major league professional sports to Brooklyn for the first time since the Brooklyn Dodgers moved to Los Angeles, California after the 1957 season. The arena’s design once included an ice skating rink and a green roof. An NBA basketball team now owned primarily by Russia's second richest man Mikhail Prokhorov, the Nets began playing at the Barclays Center arena in 2012. Formerly the New Jersey Nets, the Nets re-branded themselves when they moved to the Barclays Center. Prokhorov is an avid basketball fan, and, with 80 percent ownership in the Nets, he has become the first Russian owner of a major U.S. professional sports franchise. The deal was necessary for Ratner, who was risking losing tax-exempt financing and the Barclays naming-rights deal if he did not break ground within three months' time.
Barclays Center
The arena, proposed in 2004 when real estate developer Bruce Ratner purchased the Nets for $300 million as the first step of the process to build a new home for the team, experienced significant hurdles during its development. Its use of eminent domain and its potential environmental impact brought community resistance, especially as residential buildings and businesses such as the Ward Bakery were to be demolished and large amounts of public subsidies were used, which led to multiple lawsuits. The global recession of 2009 also caused financing for the project to dry up. As a result, construction was delayed until 2010, with no secure funding for the project having been allotted. Groundbreaking for construction occurred on March 11, 2010, and the arena opened on September 21, 2012, which was also attended by some 200 protesters. It held its first event with a Jay-Z concert on September 28, 2012. The arena and the Brooklyn Nets are owned by Mikhail Prokhorov's American holdings.