Forest City Enterprises, Bruce Ratner's parent company and controlling shareholder in Barclays Center, has lowered financial expectations for the arena in its latest quarterly report. In short, the arena has not performed as well financially and thus, the company has had to downsize what he expects in profits from the arena.
Here's what FCE told investors about the arena...
"Results for the Barclays Center arena were down in the first quarter, compared with the same period in 2014, a function of the number and mix of events in the comparable quarters. Based on the ramp-up of the property and its performance to date, we are revising downward our estimate of annual arena NOI (net operating income) at full stabilization to $55 million ($30.