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PostPosted: Thu Jan 22, 2004 10:49 pm 
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http://sports.yahoo.com/nba/news;_ylc=X ... &type=lgns
Nets reach deal to sell team to Brooklyn, N.Y., developer

By DAVID PORTER, Associated Press Writer
January 22, 2004

AP - Jan 22, 12:02 am EST
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TRENTON, N.J. (AP) -- The sale of the New Jersey Nets brought the NBA team one step closer to returning to New York.

The move appeared imminent after Brooklyn developer Bruce Ratner reached an agreement Wednesday to buy the team. Ratner wants to move the team to Brooklyn, where it would play in a new, 19,000-seat arena he plans to build as part of a $2.5 billion office, residential and shopping complex.

The agreement between Ratner and Community Youth Organization, which owns the Nets, must be ratified by the board of YankeeNets, the holding company of the Nets and New York Yankees, at a meeting Friday morning. The sale price is believed to be around $300 million.

``I'm very pleased that the process worked and was very successful, and I'm very glad it's over. It was a very intense process of negotiation,'' said Edwin Stier, president of the Community Youth Organization.

If the sale goes through, it will deal an apparent final blow to efforts by a New Jersey-based group to keep the team in the state. Real estate developer Charles Kushner and Sen. Jon S. Corzine had pledged to keep the team in New Jersey, though they hadn't said publicly whether they would have kept it at Continental Airlines Arena in East Rutherford or moved it to a new arena planned for Newark.

The plan to build an arena in Newark was stalled by disagreements over how to fund the project.

Corzine and Ratner declined comment Wednesday night, while attempts by The Associated Press to reach Kushner through his office were unsuccessful. Ratner's bid was reportedly $300 million. Stier wouldn't comment on the amount.

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``Charlie Kushner bid $300 million in cash to keep this team in New Jersey, and he is disappointed with the result,'' Kushner's spokesman Bob Sommer told The Record of Bergen County and The Star-Ledger of Newark for Thursday's editions.

Stier said he informed Kushner of the board's decision late Wednesday.

``He told me he appreciated the way the process was run,'' Stier said. ``All the parties who participated expressed that to me.''

Ratner declined comment through spokesman Barry Baum.

George Zoffinger, president of the New Jersey Sports and Exposition Authority, which operates Continental Airlines Arena and the rest of the Meadowlands complex, expressed dismay that the Nets accepted Ratner's offer.

``Early in the afternoon we thought they had accepted Kushner's bid. Then, something happened,'' Zoffinger said. ``I don't know if New York City put up more money, or if Ratner and New York City put up more money, but basically it fell through.''

The Nets are one of the NBA's more well-traveled franchises. The team began as the New Jersey Americans in the old American Basketball Association 1967 and played in a converted armory in Teaneck. In subsequent years, the Nets played in arenas in Commack, West Hempstead and Uniondale -- all on Long Island -- and then at Rutgers University before moving into the Brendan Byrne Arena at the Meadowlands complex for the 1981-82 season.

The borough has not had a major sports franchise since baseball's Dodgers left for Los Angeles in 1957.

Construction on the Nets' proposed new home, Ratner's planned Brooklyn Arena and Brooklyn Atlantic Yards, would begin next year, with the arena expected to be completed in time for the 2006-2007 NBA season.

According to a statement released by Ratner, the rest of the project would take 10 years to complete.

The Nets were in San Antonio on Wednesday night, where they lost to the Spurs 99-76.

When asked after the game about the possible move, Jason Kidd replied: ``When do we move? I'll probably be retired. That's nice, so you guys don't have to ask us anymore.''

Not everyone is in favor of having the Nets in Brooklyn. Opponents say the development will displace up to 1,000 residents.

``He may have the Nets. He doesn't have the land and he doesn't have the arena, and if he plans to build it here and use eminent domain to forcibly take the properties of 1,000 of my neighbors, I know he has a huge fight on his hands,'' said Patti Hagan, spokeswoman for a group of residents opposed to the project.

New York City Mayor Michael Bloomberg and many other city officials are in favor of the plan, although the area's city councilwoman and state senator have come out against it.

``I'm very disappointed,'' said city councilwoman Letitia James, whose district includes the area where the arena would be located. ``It's a great day for rich developers and a sad day for working families.''

At least one local politician fully supports the move. Brooklyn Borough President Marty Markowitz told radio station WCBS-880 on Wednesday night: ``I believe this will be the best thing to happen to Brooklyn in decades.''


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PostPosted: Fri Jan 23, 2004 2:17 am 
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damn... I was looking forward to the NEW JAY Z Nets..

Obviously they offered more than Jay's 275mil.

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PostPosted: Sat Jan 24, 2004 1:37 pm 
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I'm personally giving up my season tickets at the end of this season..in fact my support for the Nets is no longer 100%..nonsense!!

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PostPosted: Thu Feb 12, 2004 11:52 pm 
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somebody say Hova Hova!

Hova! Hova! Hova!

Jigga Jigga that ni##a Jigga! :twisted:

Taking the Nets to BK Son!!! That's wssup!


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PostPosted: Fri Feb 13, 2004 6:10 am 
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Ugbowo wrote:
somebody say Hova Hova!

Hova! Hova! Hova!

Jigga Jigga that ni##a Jigga! :twisted:

Taking the Nets to BK Son!!! That's wssup!


Sharrap dia my fren !!!


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PostPosted: Sat Feb 14, 2004 1:22 pm 
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Ugbowo,
Did you just say the Net are going to the Super Bowl!? :mrgreen:

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PostPosted: Sat Feb 14, 2004 4:06 pm 
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nanijoe wrote:
Ugbowo wrote:
somebody say Hova Hova!

Hova! Hova! Hova!

Jigga Jigga that ni##a Jigga! :twisted:

Taking the Nets to BK Son!!! That's wssup!


Sharrap dia my fren !!!

Heh heh, so what is left for you NJ guys now?...nada! At least we still have the Celts even if they blow. A bad team is better than no team. :lol: :lol: :lol:

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PostPosted: Sat Feb 14, 2004 8:59 pm 
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Hey Yemster what's going on with Vince Baker?

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PostPosted: Mon Feb 16, 2004 7:34 pm 
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omonaija wrote:
Ugbowo,
Did you just say the Net are going to the Super Bowl!? :mrgreen:




BK- Brooklyn!!!!!!!


U slow ohh!


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PostPosted: Tue Feb 17, 2004 11:00 pm 
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The New York Nets! doesnt seem to have the same ring to it then again there is Memphis


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PostPosted: Thu Mar 04, 2004 8:21 am 
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Hmm that will keep the city buzzing for a while cool... :P

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