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Old 10-29-2008, 01:29 AM   #1
Kiddlovesnets
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Thumbs up Nets on the block?

Quote:
Sources: Foreign owners eye Nets

By Adrian Wojnarowski, Yahoo! Sports 5 hours, 10 minutes ago


BOSTON – With tens of millions of dollars in annual operating losses and a $3.5 billion Brooklyn arena and real estate deal in peril, New Jersey Nets owner Bruce Ratner has listened to overtures of two prospective foreign ownership groups, two league executives with knowledge of the talks told Yahoo! Sports.

The most serious advance, sources say, were made in recent months by Russian oligarchs, tycoons invested in the country’s oil industry. The Russians’ working plan would’ve been for full ownership of the Nets and control of the Atlantic Yards project in Brooklyn, one source said.

Also, a Middle Eastern group, based in Dubai, expressed interest to the NBA and Nets ownership.

There are no ongoing negotiations, but the fact that Ratner was willing to listen speaks to the trouble he’s had getting the Brooklyn arena built, as well as the financial beating that he has taken since purchasing the Nets in 2004. Sources say he’s losing as much as $30 million a year on the team.

NBA commissioner David Stern didn’t speak specifically about potential interest in the Nets, but confirmed overseas interest in owning NBA teams. “It is fair to say that we have had expressions of interest – no sales – from Russia, the Middle East and China,” Stern told Yahoo! Sports on Tuesday night.

Then, Stern smiled and said, “But none in the last two weeks, and all of them when oil was $140 a barrel.”

For now, the Nets are rebuilding with young players and remain lame-duck tenants in a Northern New Jersey market that is largely indifferent to them. The New York Daily News reported on Monday that Ratner met with a group of investors in the past year about selling the Nets, but the paper’s story said that the proposed deal would not have included the Atlantic Yards.

So far, Ratner has resisted selling the franchise as he tries to revive the floundering arena project in Brooklyn. Most league officials have grown increasingly pessimistic that the economic climate will allow Ratner to obtain the hundreds of millions of dollars left to finance the construction. Stern declared optimism about the Nets getting the arena financed and moving to Brooklyn, but many others believe the situation is dire and ultimately unlikely to happen.

Plans for a 2011 opening of the Atlantic Yards project, which includes business and residential structures, were pushed back again recently. The Nets had hoped that the move to Brooklyn would be part of a plan that would trigger Cleveland Cavaliers star LeBron James to sign a free-agent deal with the Nets. James is close with one of the Nets part-owners, rapper Jay-Z.

I'm getting tired of this idiot Bruce Ratner so please make this happen, please.
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Old 10-29-2008, 06:22 AM   #2
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Default Re: Nets on the block?

Quote:
Originally Posted by Kiddlovesnets
I'm getting tired of this idiot Bruce Ratner so please make this happen, please.
To start with, Adrian Wojnarowski is a moron. Second, even though you're not alone in your hatred of Bruce, I'm not sure you're fully grasping the possible consequences of selling the team to foreign investors. The most glaring of those? If Ratner managed to sell the team to investors in either Russia or China, where do you think the first non-American NBA team would be based when the league goes global?

Besides, what we need to remember is that Ratner held talks with these people months ago. It's not like they happened yesterday. In that regard, this article (and the one in the Daily News) is irrelevant now. In actual fact, a spokesperson for Ratner has come out in the last 24 hours and said there is no truth to the rumors at all.

As much as I don't like Ratner, selling the team now is a bad idea and as a businessman, he knows that. With the US dollar the way it is, now is hardly the time to be selling a major sports team.
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Old 10-29-2008, 08:51 AM   #3
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Default Re: Nets on the block?

i still don't know of any reason why ratner is a bad owner. the nets could certainly have worse.

no forward-looking owner would keep the nets in east rutherford where they're relentlessly unprofitable, and several owners would want to take them completely out of the area. at least ratner wants to keep them around and put them in a nicer facility.

i read notes from a conversation with stern the other day in which he purportedly said that only 5-7 teams are currently profitable and that he was prepared for a lockout in a couple years. maybe the league can lower the salary cap to restore some sanity and owners won't be under as much pressure to move teams.

P.S. something i hadn't realised- the nets were originally a new york team, although they did have to keep relocating their first few years. more here:
http://en.wikipedia.org/wiki/New_Jer...he_ABA_Yea rs

Last edited by gigantes : 10-29-2008 at 09:23 AM.
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Old 10-29-2008, 10:34 AM   #4
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Default Re: Nets on the block?

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Originally Posted by gigantes
i still don't know of any reason why ratner is a bad owner. the nets could certainly have worse.

no forward-looking owner would keep the nets in east rutherford where they're relentlessly unprofitable, and several owners would want to take them completely out of the area. at least ratner wants to keep them around and put them in a nicer facility.

i read notes from a conversation with stern the other day in which he purportedly said that only 5-7 teams are currently profitable and that he was prepared for a lockout in a couple years. maybe the league can lower the salary cap to restore some sanity and owners won't be under as much pressure to move teams.

P.S. something i hadn't realised- the nets were originally a new york team, although they did have to keep relocating their first few years. more here:
http://en.wikipedia.org/wiki/New_Jer...he_ABA_Yea rs

I have lost faith in this idiot since he managed to tear a title contender apart in 2004 by sending Martin and Kittles away for nothing. Sure VC joined the team later on but it was all resulted from Kidd's request and Thorn's efforts. Ratner was afraid that if he didn't do this trade he would lose Kidd as well, who would be helping him selling a great deal amount of tickets then. The 2004 Nets' roster was the best for this team in this decade if we don't count injury of Mourning and Kidd. Rartner simply didn't want to spend any money on this team and the Nets have never been a serious contender ever since.

Besides, the trade for Yi Jianlian and Bobby Simmons proved that Ratner is definitely the one who cares nothing but earning money from our poor team. We all know that Bobby Simmons' contract will expire soon so he's completely useless. For Yi, well, he'll never be as good as RJ for sure but his marketing value is unmeasurable. Ratner intends to make money from Yi's chinese market and therefore turned the Nets to a lottery team completely. This team's fate is largely dependent on whether LBJ agrees to join in 2010. The Nets will be a long-tern lottery team if we can't launch LBJ eventually.

Now I don't really care the identity of the buyer but I just want to make sure that he must be a much more wealthy businessman and would love to spend money on this team. All Ratner did in recent years was to take money from this team and its fans so now we need someone who can at least do something for we Nets fans. As a Nets fan, I don't wish to see my team being constantly drained from a person like him. He sucks.
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Old 10-29-2008, 11:05 AM   #5
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Default Re: Nets on the block?

@kiddlovesnets,
good post explaining your stance, but you've already brought up this stuff many times before. i think your reasoning is flawed and i've pointed out why in the past which you never really replied to AFAIK.


@anyone else,
as i said before i still see nothing really wrong with ratner as an owner, but feel free to tell me how i might be wrong.
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Old 10-29-2008, 12:12 PM   #6
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Default Re: Nets on the block?

I dont understand how the nets are losing money in east rutherford and how everyone is making it seem like its a bad market. The NEW YORK Giants play in East Rutherford, as does the NY Jets. Both New york teams that play in Jersey and they seem to being doing just fine. But a NJ team cant make money in the same arena (east rutherford). Sounds fishy to me. Regardless i dont care anymore. I would rather them play in Brooklyn than that piece of SH*T city they call NEWARK. The only good thing about Newark is the Newark Airport! I dont understand why they just cant revamp the marketing strategy to increase the wealth of the market in east rutherford. Moving middle class citizens out of their homes, conjesting the city of brookyln even more, and providing a very big inconvience for the city, to build a stupid arena is not a smart move. IF Brookyln basket ball fans want to see a team play then go to Madison Square Garden. NJ/NY fans should be more supportive by actually attending the games. Im not buying that East Rutherford is a bad market when you have the NY football teams playing there, you have major concerts that go on there, so much goes on there, im just not buying it!

Last edited by JerzeyBlaze : 10-29-2008 at 12:17 PM.
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Old 10-29-2008, 12:39 PM   #7
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Default Re: Nets on the block?

Quote:
Originally Posted by JerzeyBlaze
I dont understand how the nets are losing money in east rutherford and how everyone is making it seem like its a bad market. The NEW YORK Giants play in East Rutherford, as does the NY Jets. Both New york teams that play in Jersey and they seem to being doing just fine. But a NJ team cant make money in the same arena (east rutherford). Sounds fishy to me. Regardless i dont care anymore. I would rather them play in Brooklyn than that piece of SH*T city they call NEWARK. The only good thing about Newark is the Newark Airport! I dont understand why they just cant revamp the marketing strategy to increase the wealth of the market in east rutherford. Moving middle class citizens out of their homes, conjesting the city of brookyln even more, and providing a very big inconvience for the city, to build a stupid arena is not a smart move. IF Brookyln basket ball fans want to see a team play then go to Madison Square Garden. NJ/NY fans should be more supportive by actually attending the games. Im not buying that East Rutherford is a bad market when you have the NY football teams playing there, you have major concerts that go on there, so much goes on there, im just not buying it!
just look at the ticket sales the last 2, 5 or 10 years- it's pathetic. have you ever been there in person and noticed a big crowd, nevermind an enthusiastic one? i sure haven't.

the only time i was there that the crowd seemed hyped was the time they handed out those fecking thundersticks to everyone who walked through the gate. so everyone just beat on those things all game long no matter what was happening on the court, making me question the average fan's intelligence and focus on reality.

your throwing in of football statistics is a fair point, but it's a different sport and supports a somewhat different crowd. mixing them up is comparing apples and oranges IMO.
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Old 10-30-2008, 03:27 AM   #8
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Default Re: Nets on the block?

Quote:
Originally Posted by gigantes
@kiddlovesnets,
good post explaining your stance, but you've already brought up this stuff many times before. i think your reasoning is flawed and i've pointed out why in the past which you never really replied to AFAIK.


@anyone else,
as i said before i still see nothing really wrong with ratner as an owner, but feel free to tell me how i might be wrong.

Well even if Bruce Ratner turns out to be a good owner, he can't be as good as the Russian buyers who have billions of money to spend on a sports team. It's time to move on...
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