Nets owner looking to sell

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08:15 AM ET 10.28
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New Jersey Nets principal owner Bruce Ratner met with a group of investors within the past year about possibly selling control of the basketball operations, the Daily News has learned. One of the investors, who did not want to be identified, said that Ratner met with investors because the Nets were "hemorrhaging dollars." The deal would not have included the Atlantic Yards project, a $3.5 billion sports arena, residential and business complex in downtown Brooklyn. The project has been delayed by lawsuits and a weak economy, although Ratner remains committed to building the Nets a new arena.

New York Daily News

Lawrence Frank, Vince Carter, AP

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October 28, 2008 08:54 AM ET

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It's going to be tougher to sell right now. The Yankees and Mets are being investigated for their new stadium. They over stated the value of the land by 600-1000% and now the Feds are investigating because the whole USA taxpayers are paying for the stadiums. This means the Nets will have a hard time building a new arena.

Guam Baller

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October 28, 2008 09:05 AM ET

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Selling this team won't be easy but it would be the only way they stay in Jersey because I know that Ratner has no plans of taking this team to Newark and sharing that arena with the Devils.

J. HOVA: PRIMETIME

Brooklyn, NY

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October 28, 2008 10:11 AM ET

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They should MOVE.

It is disgraceful that they draw diddly in the NYC market
Even when they WERE good & going to the finals- they
drew poorly.

jgb

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October 28, 2008 11:44 AM ET

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The real estate market fell apart on Ratner. Even if he builds the stadium and adjacent complex he won't be able to sell the luxury condos that were going to make this deal a moneymaker for him. In addition, fewer companies will compete for rental of the new space. In essence, he's screwed.

The Nets will not be sold. The stadium will not be built. The team will not be good.

Toast, toast, toast.

Petey024

New York , NY

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October 28, 2008 01:44 PM ET

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Should have sold back in 2001 when the team was really good and worth something.

Joe Dew

Idaho Falls , ID

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October 28, 2008 01:44 PM ET

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When the going gets tough just sell the team

Joe Dew

Idaho Falls , ID

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October 28, 2008 02:48 PM ET

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The season starts today, come see what Joe Dew expects for the upcoming season in the NBA Blog.

Leave a Comment, join NBA Fanz if you havent already. We are the most active NBA site on fannation.

http://www.fannation.com/blogs/post/280075?new=true

Joe Dew

Idaho Falls , ID

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October 28, 2008 03:23 PM ET

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fug the nets!

the dee of Dees

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October 28, 2008 03:45 PM ET

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QUOTE(#3):

Originally posted 10:11 AM ET 10.28 by jgb

They should MOVE.It is disgraceful that they draw diddly in the NYC marketEven when they WERE good & going to the finals- theydrew poorly.

The Nets used to play in Nassau Coliseum back when they were the New York Nets. I know they want to play in City limits but now that the Brooklyn arena doesn't look like it's going to happen they should go after the Islanders and share the Coliseum.

Maybe the two teams in the one arena might be enough to get Nassau county and the State of New York interested in building a new sports complex out there in Hempstead. Maybe you could also convince Hofstra, and even St. John's to play some games there.