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March 5, 2007
Nets to Newark? The option emerges, as Ratner hedges on Brooklyn timing
Atlantic Yards Report
Could the Nets be headed to Newark, as an interim option before the arena Brooklyn in Brooklyn is completed? And could that be the fallback if the Atlantic Yards plan dies?
That's what the tea leaves suggest. First, last week, the New York Times reported on a press conference held by Nets majority owner Bruce Ratner:
To some, rebuilding seems a logical step for the Nets because they are scheduled to move to Brooklyn by the 2009-10 season. The Nets’ new arena will be the centerpiece of Ratner’s $4 billion Atlantic Yards project. Construction crews have already begun clearing the area for the arena to be built, and Ratner said that the time frame for having the arena ready was “aggressive, but I think we can do it.”
Translation: it may not be ready by 2009.
Today in Crain's there is some speculation that it would be a smart move for the NJ Nets to decamp when the new Newark Arena opens during their lame-duck seasons, but it's not likely to happen.
Norman Oder adds:
Yes, it would make sense for the Nets to move to Newark as soon as possible, for the reasons noted by Crain's. Also, unmentioned, is that if the Atlantic Yards project is further delayed, or even killed, the Nets could establish some longevity in their new (temporary?) home.
Remember, the state and Forest City Ratner have predicted 225 events annually at the Brooklyn arena--but that's predicated on the absence of an arena in Newark. The presence of the Newark arena would reduce revenues in Brooklyn.
Posted by lumi at March 5, 2007 9:45 AM