Barclays Center is part of a $4.9 billion future business and residential complex now known as Pacific Park. The arena was proposed in 2004 when real estate developer Bruce Ratner purchased the Nets for $300 million as the first step of the process to build a new home for the team.
Barclays Center opened on September 21, 2012, and the first NBA basketball game played was an NBA preseason game between the Brooklyn Nets and the Washington Wizards on October 15th, 2012. The arena also hosts concerts, conventions and other sporting and entertainment events.