New Jersey Nets net another sponsor for Brooklyn move

05 October 2009 | Posted in Sponsorship, Basketball, | By Michael Long

High Point Solutions has been named as the latest major partner of the Barclays Center, the new arena the New Jersey Nets NBA franchise plans to build in downtown Brooklyn.

The franchise's plans to move to Brooklyn were boosted last month with the news that Mikhail Prokhorov, believed to be the richest man in Russia, has agreed to spend US$200 million to secure an 80 per cent stake in the New Jersey Nets and 45 per cent of the Barclays Center.

The long-term partnership will see High Point Solutions named the official IT networking equipment provider for the Barclays Center, as well as title sponsor of the High Point Solutions Chairman's Club. The company will also receive space on the arena's main concourse to showcase its products and services.

"We are thrilled that High Point Solutions, one of the most prestigious Information Technology companies in the nation, will join as a major partner of the Barclays Center, where it will expand its brand identity throughout the metropolitan area," said Nets chief executive Brett Yormark to Sponsorship News. "High Point Solutions is already a valued Nets partner, and we are excited that this best-in-class company is demonstrating its commitment to the Barclays Center and bringing the best of sports and entertainment to Brooklyn.

"Our alliance is yet another example that the marketplace is excited and confident about the arena and the renaissance of the borough."

The multi-year partnership is worth a significant amount to the Nets, who have secured the likes of Anheuser-Busch, Cushman & Wakefield, Emblem Health, Phillips-Van Heusen and Haier as foundation partners of the arena in agreements totalling more than US$100 million.

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Contract Details

  • Length of contract: 4 years
  • Annualised value: US$800,000
  • Overall value: US$3.2 million
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