Outside of the Nets victory over the Knicks last night (more to come on that in a bit), there isn’t a tough of Nets-related news out there this a.m. besides some Brooklyn-related tidbits.
First, Nets CEO Brett Yormark talked with the YES Network before last night’s game and mentioned some tidbits about Brooklyn (“Brooklyn is here”), Mikhail Prokhorov (“he wants to build a championship team”) and the temporary move to Newark and the Prudential Center (“it serves as a great sampling environment to our fans in New York who can take rail”).
The New York Observer discusses Bruce Ratner’s next financial challenge in building the Barclays Center. He must raise $324 million by next December or he will have to refund the bondholders’ money: Some of this money will come from Mikhail Prokhorov, the tentative new buyer of the Nets, who has agreed to pay $200 million for 80 percent of the team and 45 percent of the arena-to-be. He has also, according to bond documents, agreed to fund at least $60 million in losses by the team until the arena is complete, though this amount is unlikely to be sufficient given that the Nets have been posting more than $70 million a year in pre-tax losses lately.
