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December 15, 2008
In sign of Brooklyn arena commitment, Yormark close to eight-year deal with Nets
Atlantic Yards Report
Whether or not Forest City Enterprises and Bruce Ratner ultimately sell all or part of their controlling share of the New Jersey Nets, the team will still have Nets Sports & Entertainment CEO Brett Yormark on board, apparently.
Sports Business Daily reports:
Since October, the rumor most rapidly circulating at sports properties, agencies and the brands supporting them was that New Jersey Nets Sports & Entertainment President and CEO Brett Yormark was taking the same job with the Miami Dolphins.
The article continues:
Actually, the flamboyant Nets executive has agreed to terms and is close to signing a lengthy eight-year deal with the Nets, according to senior NBA sources. The deal comes as the Nets’ planned move to Brooklyn from New Jersey is mired in legal delays and has been pushed back until at least 2011.
“There are some doubts out there about the team’s future in Brooklyn, but obviously this shows a long-term commitment there,” said one league source.
NoLandGrab: An eight-year deal? If this report is accurate, then Bruce Ratner has once again betrayed that he's one of the least-savvy pro owners around if there's another team executive with such a lengthy contract in all of pro sports, we'd be very surprised.
Honestly, this smacks of more "we're committed to Brooklyn" public relations spin. We expect Yormark's contract would be laden with escape clauses.
Posted by eric at December 15, 2008 10:04 AM