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December 5, 2009

Nets arena go-ahead gets more good news

By Steven Witt

Here's reporting that displays more of the Courier-Life's fawning coverage of all things Bruce Ratner.

It’s all systems go for the Brooklyn Nets arena, and perhaps an NBA championship banner hanging from the rafters following the 2011-12 playoffs in the borough.

The idea did not seem that far-fetched to current Nets owner Bruce Ratner after both Moody’s Investor Service and Standard & Poor’s gave investor grade ratings for the proposed issuance of $500 million in tax-free bonds.

The ratings, which were just above a junk bond rating, should help pave the way in financing the $1.06 billion Barclays Center arena at the Flatbush/Atlantic avenues intersection.

This following unquestioned information fails to indicate that an arena could not open before 2012 and also indicates there is now a new definition of the phrase "good team".

While the Nets have started off winless in their first 17 games at press time and are on the verge of breaking an NBA record for losses starting a season, Ratner said it’s all part of a plan to bring a championship contender team to the borough by the end of the 2011-12 season.

“This was really just a year we were rebuilding. We’ve had a lot of injuries. I think long term we have a very good team,” said Ratner.


Posted by steve at December 5, 2009 8:39 AM