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January 29, 2008

Legal Delays Tax More Than the Nets’ Patience

The NY Times
By Richard Sandomir

Choose the most pressing problem for the Nets:

a) Their 18-26 record puts them only three and a half games ahead of the Knicks.

b) Vince Carter finished fourth in a Sports Illustrated poll of N.B.A. players who get the least out of their talent, but he was seen by his 242 colleagues as just slightly more of an overachiever than the Knicks’ perennially underachieving Eddy Curry.

c) Jason Kidd would rather play for a team that is not three and a half games up on the Knicks.

d) The financial markets are a mess, which is not the fault of Isiah Thomas.

The right answer is (d), unless the Knicks overtake the Nets this season, which would be the supreme crisis of the ownership of Bruce Ratner.

If you chose (d), then you sensed that it will be riskier and more expensive than ever envisioned for the Nets to construct the Barclays Center arena that is part of the $4 billion Atlantic Yards project proposed to be built near downtown Brooklyn.

Read about how the Nets' change of address cards won't be going out anytime soon; how the Devils, Yankees, Mets, Giants and Jets got their done deals done before the global markets became constipated; Ratner's legal strategy; and Goldman Sachs' contention that they "cannot wrap up deals without the cessation of legal hostilities."

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Posted by lumi at January 29, 2008 5:42 AM