Sports > Business/Ballparks/Arenas > Ballparks & Arenas > Coming Attractions: Ballparks and Arenas > Coming Attractions: 2007
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.