Are the Nets Newark-Bound?

by Andrew Smith on May 1st, 2008 at 3:50 pm

The Newark Star-Ledger is reporting that a group of New Jersey investors, headed by New Jersey Devils owner Jeffrey Vanderbeek, is looking to purchase the New Jersey Nets from current owner Bruce Ratner. It is well-documented that since purchasing the Nets in November of 2005, Ratner has been working to move them to his hometown of Brooklyn. Although there had been a number of obstacles that have arisen in his attempt, it still seems likely that the move will eventually be approved.

Vanderbeek has really progressed from his days as a teen star on Dawson’s Creek.

But, now there is growing concern that the sub-prime credit crisis has not only affected run-of-the-mill mortgage-paying Americans, but also Ratner, who is worth several hundred million dollars, and it could potentially force him to sell the Nets, one of his largest assets.

How does this affect the Knicks? Well, as attractive as being a financial partner with Jay-Z is to LeBron James, Newark is not exactly Brooklyn. And if this sale does come to pass, it would be hard to see King James expressing a desire to finish his career at the Prudential Center.

I will say that I was very impressed with the Prudential Center after going to a Rangers-Devils game this season. But, keeping the Nets from moving to Brooklyn would be a God-send to the Knicks, who would never admit to it, but have to be deathly afraid of a Jay-Z/LeBron combo taking Manhattan by storm.

Although, the article also states that Ratner just had a $680 million loan approved to build a “luxury tower” in lower Manhattan, which should put to rest any hopes of him having financial troubles.
  • jm11

    This would be great for the Knicks if the Nets don’t make the move to Brooklyn. LeBron coming to Brooklyn coupled with the fact that the Knicks could still be trotting out Eddy Curry, Jared Jeffries, and Jerome James is a scary thought and would destroy the Knicks fanbase in that borough. Not to mention Jay-Z is already getting LeBron’s back on his tracks like he does in this diss to DeShawn Stevenson in one of his latest freestyles:

    http://nymag.com/daily/entertainment/2008/04/jayzs_new_song_disses_deshawn.html

    You can find the actual song on the internet, but I can’t find it through the blocks on my work computer, enjoy.

  • http://www.theknicksblog.com/2008/08/05/nets-to-brooklyn-hits-another-snag/ The Knicks Blog » Nets To Brooklyn Hits Another Snag

    [...] another delay in the building of a new arena in downtown Brooklyn. If you remember, The Knicks Blog Andrew Smith wrote about the possibility of the Nets being bought from a group that would move them to Newark. Right [...]