At the NBA Board of Governors meeting yesterday,
Commissioner David Stern stated even if the Nets ownership
decides not to sell the team, there should be "a restructuring in
ownership and its mode of operations," according to the N.Y.
POST's Fred Kerber. Stern: "We're not pressuring them to sell.
We just want them to act decisively because it's in the best
interest of the franchise and the fans." Stern, who urged Nets
ownership to reach concrete decisions regarding the franchise's
future by the end of this week, expressed concern with the fact
that the team has seven owners who are often moving in different
directions. Stern: "To me, this franchise needs to speak with a
single voice, be definitive and move forward. That's what I'm
urging them to do." Kerber: "You might as well ask for a cure
to the common cold" (N.Y. POST, 4/25).
OTHER NBA BIZ: Stern also announced before the Board that
the $130M sale of the 76ers from Harold Katz to Comcast Corp. has
been officially approved. Stern: "It was swift and unanimous.
It's good to have happy new owners" (PHILADELPHIA INQUIRER,
4/25). John Smallwood of the PHILADELPHIA DAILY NEWS writes
that, "surprisingly," Katz has "become comfortable" with losing
the Sixers. Katz, who nearly broke down when announcing the sale
of the team he had owned since '81, will make an $118M profit on
the sale. Katz: "What do I do now? I count the cash. How long
will it take? I don't know, I've never had that much money to
count" (PHILADELPHIA DAILY NEWS, 4/25).
