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Last updated on February 1, 2009
NBA Basketball New Jersey (East): An ownership group headed by Brooklyn
developer Bruce Ratner was cleared by the NBA to purchase the Nets. The new
owners will presumably move the team to Brooklyn where Ratner plans to build
a 19,000- seat, Frank Gehry-designed arena that will be part of a $2.5 billion
office, residential and shopping complex. The plans face opposition from area residents and the arena is expected
to be open for business no sooner than 2007. The entire project is expected
to take 10 years to complete.
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