Despite Jay-Z's well-publicized involvement, there's a reason the place isn't called "The Hov Center." That reason is London-based bank Barclays PLC, which inked a deal with the Nets to pay them a staggering $400 million over the next 20 years for the naming rights.
Barclays PLC has over 300 years of history, dating back to 1690 when John Freame and Thomas Gould began hustlin' as goldsmith bankers on Lombard Street in London. The name "Barclays" came into play in 1736, when Freame's son-in-law, James Barclay, became a partner. The bank has set up shop in over 50 countries, establishing nearly 4,800 branches, a third of which are located in the United Kingdom. At the close of 2010, Barclays had reported assets amounting to $2.33 trillion, making it the fourth largest bank in the world.
No stranger to sports, Barclays has sponsored the Premier League since 2001. In 2008, it sponsored the Dubai Tennis Championships, and became the official sponsor for the ATP World Tour Finals in 2009. The bank also sponsors golf, funding the Barclays Scottish Open on the PGA European Tour, The Barclays, and the first four playoff tournaments of the FedEx Cup.