Barclays developer wins contract to redevelop Nassau Coliseum
Barclays Center developer Forest City Ratner and Russian billionaire Mikhail Prokhorov have been tapped to take the lead in the long-debated and Nassau Veterans Memorial Coliseum revitalization project.
The Forest City-Prokhorov team, who share ownership of the Brooklyn Nets basketball team, won out over Madison Square Garden (MSG) in securing the much-sought-after contract, by offering Nassau County a greater share of revenues over the course of its 34-year lease, said Nassau County Executive Edward P. Mangano during an August 15 press conference announcing the selection.
Forest City also agreed to share the New York Islanders–soon to be the Brooklyn Islanders–with their original home stadium, at least for four regular season games and two pre- or post-season games, according to 1010Wins.