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February 18, 2009

NJ Nets: The Armageddon Option

As Star-Ledger sportswriter Dave D'Alessandro sees it, Bruce Ratner has two options in the waning hours before tomorrow's trading deadline, dump Vince Carter's hefty contract or suck up tens of millions of dollars in losses (again):

So consider the wide-angled reality of the matter. The season is probably going nowhere. The franchise is going to lose upwards to $35 million again. The arena is not generating any revenue. The fan base, such as it is, is already apoplectic. Brooklyn is still a pipedream until it isn't.
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Take our word for it: There aren't many smiles at Forest City Enterprises board meetings anymore.

So at this time tomorrow, they are going to tell us one of two things. Either they're going to stick it out and take another huge financial hit, or they'll be in full dump mode - which is precisely what they'll be doing if they pull the trigger on some of those idiotic proposals that have been bouncing around in the last 48 hours.

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Posted by lumi at February 18, 2009 6:52 PM