SBD/January 14, 2013/Marketing and Sponsorship

Parking Ticket: Nets, Barclays Center Suing Car Service For Not Paying Sponsorship

The Nets and Barclays Center are "suing a Flatbush car service for allegedly reneging on a $4.5 million sponsorship deal," according to Gary Buiso of the N.Y. POST. A lawsuit filed in Manhattan Supreme Court last week showed that other than "cutting one check that bounced ... Pia Car Limo made no other payments." Pia, the Nets and Barclays Center "cemented an agreement in December 2011 -- in exchange for sponsorship fees, Pia was granted exclusive rights, including being crowned the team’s official car service provider for seven years." In return, Pia "was to pony up $353,000 to Barclays and $187,000 to the Nets for the first year, with annual payments increasing by 5 percent over the next six years." But the lawsuit stated that the company "missed its first payments, which were due last April and then dispatched a check for $560,000 in June -- but warned that it couldn’t be cashed for six weeks" (N.Y. POST, 1/13).
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