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April 27, 2008
Newark wants Ratner to ditch Brooklyn and stay in NJ
The Real Deal
Developer Bruce Ratner has been approached by several New Jersey investors and public officials on a plan to relocate the Nets to the Prudential Center in downtown Newark, according to sources familiar with the talks.The investors would like Ratner to have the Nets partner with the New Jersey Devils and move into the Prudential Center in Newark, where the hockey team has just finished its first full season.
"They're being wooed politically as well as by the private sector," said Ken Baris, a New Jersey realtor, who is familiar with some of the investors who have approached Ratner. "There's a lot of people that kind of want to keep it quiet, but [at the same time] are looking forward to a lot more leaks."
A move to Newark would effectively end Ratner's efforts to move the Nets to a $950 million Barclays Center in downtown Brooklyn, which was to serve as the centerpiece of his controversial $4 billion Atlantic Yards complex and would be the most expensive basketball arena in the country. Nets officials denied there have been any plans to move to Newark and have insisted they are moving forward with the Brooklyn arena.
Posted by amy at April 27, 2008 10:02 AM