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Port Authority: $10 WTC name rights deal shameful

September 18, 2013
Associated Press

NEW YORK (AP) — The Port Authority of New York and New Jersey says a deal that sold the World Trade Center's name rights to a nonprofit organization for $10 decades ago was "shameful."

A story by the Woodland Park, N.J., newspaper The Record this month revealed the name rights were sold to a former Port Authority executive in 1986. The Port Authority owns the land where the Twin Towers stood and is among the entities that pay the former executive's nonprofit organization $10,000 a year to use the words "World Trade Center."

New York Gov. Andrew Cuomo (KWOH'-moh) has urged an investigation. New Jersey Gov. Chris Christie also has criticized the deal.

Port Authority executive director Patrick Foye called the rights sale a "shameful episode" at Wednesday's board meeting.

The nonprofit World Trade Centers Association says no one is available to comment.

 
 

 

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