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September 23, 2005
Forest City reaches deal for NY land
Crain's Cleveland Business
By Brandon Glenn
This report touting the MTA deal prompted by yesterday's Forest City Enterprise's press release contains some quotes by the comedic Tom Smith:
CFO Tom Smith said he didn’t know how much of the 21-acre site Forest City already has acquired.
Mr. Smith said the basketball team’s ownership group is “considering” changing the team’s name.
“It would be hard to call them the New Jersey Nets when they’re in Brooklyn,” he said.
And, here's a quote that is the closest thing to an admission by any Forest City executive that it isn't about "Bringing Basketball to Brooklyn":
"Our long-term objectives are to build a great NBA franchise and use the arena as a catalyst for the Atlantic Yards project," CEO Bruce Ratner said in the statement.
NoLandGrab: Bruce says "catalyst," others say "red herring." Whatever, it's going to be big and it ain't about basketball.
Posted by lumi at September 23, 2005 6:48 AM