PROSPECT HEIGHTS (WPIX)—A British bank will soon have its name on a major New York City subway station if a $4 million deal is approved on Wednesday.
Commuters passing through the Atlantic Avenue-Pacific Street and Flatbush Avenue subway station in Prospect Heights may soon hear the word "Barclays" added to the already long subway station name.
Barclays, a London-based bank company, is the first buyer in the MTA's five-year effort to sell the names of subway stations to raise more revenue. The company would pay the MTA installments of $200,000 per year over the next 20 years.
"It's always a question of balancing our need for revenue and our stewardship of public space," stated MTA spokesperson Jeremy Soffin.
The Atlantic Avenue-Pacific Street and Flatbush Avenue station is the second busiest in the New York City transit system. It offers passengers connection to 10 of the system's 24 subway lines -- the B, D, M, N, Q, R and Nos. 2, 3, 4 and 5 trains.
If the deal goes through, the Barclays name change would not go into effect until 2012.
The punctuation for the name change has not been set, but transit officials say that hyphens and slashes will most likely be used. The new name will also be introduced into subway maps and timetables.
The unveiling of the "Barclays" name addition to these stations is set to coincide with the opening of another project with the bank's namesake.
The Barclays Center, which is part of the Atlantic Yards project, is a planned sports arena and expected to become a one of the downtown Brooklyn's main attractions.
Companies have already advertised in big, recognizable ways in subway cars and stations.
Some highlights this year include the New York State Smokers' Quitline and Continental Airlines, who placed their ads on subway turnstiles. VitaminWater had their advertisements for new product "VitaminWater 10" plastered all over the exterior and interior of the 42nd Street shuttle train.
Currently, at the 42nd Street- Times Square station, posters for the upcoming " Harry Potter" movie have the film's characters standing in a subway station. Lining the walls and columns of this station is likeliness of these characters that make it seem as though they, like real passengers, are waiting for the train too.
New York City's subway system is the largest in the nation. According to the MTA, the average weekday subway ridership in 2008 was 5.2 million passengers.