Ratner could be looking to sell Nets

According to the NY Post, Bruce Ratner is investigating the feasibility of selling the New Jersey Nets. This despite a very poor seller's market. Sources claim that Ratner still wants any owner to continue progress towards moving the team to Brooklyn, and he still wants a minority share in the team. The Brooklyn investor bought the Nets for $305 million in 2004, but they have struggled mightily and had a sharp 29% drop in attendance this past season.

Faced with mounting financial losses, the Nets are cutting costs this offseason. They have reduced their office workforce by approximately 25 percent. Most non-basketball employees have faced Friday furloughs in the summer, reducing their pay by 20 percent. The Nets also dealt away Vince Carter on a draft night trade, their most expensive player, to the Magic to lower their payroll for prospective buyers.

According to Nets CEO Brett Yormark, "We have recieved interest from potential investors in the team. That interest is growing as it is clear that we are moving to Brooklyn. Our ownership group is as committed as ever to the success of the Nets and to the Barclays Center."

I think Ratner should sell the team to someone who wants to keep it in New Jersey. I have never supported the move to Brooklyn. The Prudential Center would be a perfect fit for the Nets, and be a good thing for the city of Newark. The Nets are playing two preseason games at the Rock this year, and Devils owner Jeff Vanderbeek has told the Nets they can gladly join the Devils in Newark longterm. Newark also has a large population and great public transportation, which would help spur ticket sales.

The Brooklyn idea is just not smart because New York is a Knicks town. If people from Brooklyn wanted to go to a game, they would go to the Garden to see the Knicks, especially if money was close for tickets. Ratner is just sabotaging the Nets right now because he is trying to get an arena plan passed that costs way too much money. The team is a lame duck right now at the Izod Center because people do not want to see a team that could be out the door.

(Photo courtesy of NJ.com)