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DESPITE ISLANDERS' INTEREST, NETS MAY NOT LEAVE NEW JERSEY
Published May 11, 1998
The Nets have received a bid from N.Y. Sports Ventures, owners of the Islanders, which is believed to be in excess of $150M, "within the past two months," sources told Richard Sandomir of the N.Y. TIMES. But the NJ Sports & Exposition Authority (NJSEA) believes that talks to rework the Nets' Continental Airlines Arena lease "are going well, and that there have been no recent problems to upset the Nets' ownership." NJSEA President Dennis Robinson: "We've had substantive and positive negotiations with the Nets." Sandomir wrote that there is also "no guarantee" that the Nets' seven owners would sell at this time, as they have "a great attachment to the Nets and have fielded offers before." Minority Partner Don Unger said, "We haven't even had a board meeting on this" (N.Y. TIMES, 5/9).