The new owner and the National Basketball Association jointly plan to use the NBA City concept as a prototype to develop a worldwide restaurant chain. The NBA sold the restaurant and expansion rights to the Minnesota firm.
Hard Rock Café earlier had transferred or sold its stake in the asset to the NBA, according to area restaurant industry officials familiar with the deal.
The NBA generates revenue from the use of its name and by the sale of NBA-licensed merchandise inside the restaurant.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- 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
Already have an account? Sign In Now
*May exclude premium content© 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.
