National Basketball Association commissioner David Sternconfirmed the plans during a visit to the 275-seat, 17,000-sf NBACity restaurant located at Universal Orlando's CityWalk attraction.The Orlando restaurant's operation would be used as a prototype forthe New York establishment.
Global expansion plans were scrubbed last year after Hard RockCafé International bowed out as an NBA City partner. NBA Cityopened in September 1999. Gross revenue figures to date have notbeen disclosed.
NBA receives licensing revenue from the use of the NBA name andlogo at the restaurant but does not receive a share of theoperating revenue until the restaurant is profitable, according toStern. The NBA is funding some of the marketing and promotionalexpenses for the restaurant but is not financing any of theventure's debt.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
