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THE NEWARK NETS? EXEC REPORTEDLY MAKES OFFER FOR TEAM
Published January 9, 1998
Newark business exec-philanthropist Raymond Chambers "has offered to buy the Nets and construct a privately financed arena for the team" in the city's downtown, according to a source close to the talks cited by Gus Sterling of the Newark STAR-LEDGER. The Nets ownership consortium "has spoken with" Chambers "but given no indication it is willing to sell the team." As Chambers' interest "has intensified," a Newark-based business group "has begun studying the feasibility of building an arena in the city." Nets President Michael Rowe "confirmed" the team had been approached by a Newark group, but would not say if Chambers was involved in the discussions (STAR-LEDGER, 1/9).