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Port Authority: WTC name sale 'shameful episode'

September 18, 2013
Associated Press

NEW YORK (AP) — The Port Authority of New York and New Jersey is vowing to probe the sale of the World Trade Center naming rights for $10 more than two decades ago.

A published report this month revealed that the WTC name rights were sold to a former authority executive in 1986. The Port Authority, which owns the land where the former Twin Towers stood, is among the entities that pay a nonprofit organization $10,000 a year to use the words "World Trade Center."

New York Gov. Andrew Cuomo has urged a probe of the rights sale. New Jersey Gov. Chris Christie also criticized the deal.

At Wednesday's Port Authority board meeting in New York, executive director Patrick Foye called the rights sale a "shameful episode" and vowed to cooperate with any investigations.

 
 

 

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