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January 11, 2012
How many Nets fans from NJ will cross the river (and bring new tax revenues)? "You’re not going to have a lot of people from New Jersey following us," CEO Yormark acknowledged in 2009
Atlantic Yards Report
Despite claims from fellow boosters of the Nets' move to Brooklyn, team CEO Brett Yormark, in a moment of candor, more than two years ago acknowledged that relatively few Nets fans from New Jersey would make the move to Brooklyn.
That won't necessarily affect the bottom line of the team and arena, since new fans from New York surely will buy seats and suites.
But it does diminish the argument for city and state arena subsidies, which were based in part on expectations of new tax benefits to the city and state from out-of-state visitors.
In other words, poaching a team may not be worth what it's cracked up to be.
Posted by eric at January 11, 2012 12:39 PM