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SBJ/August 16 - 22, 2004/This Weeks Issue
News in brief from The Sports Business Daily
Published August 16, 2004
Nets sale approved
The NBA board of governors unanimously approved the sale of the New Jersey Nets to Bruce Ratner, despite lingering questions about his ability to raise the $300 million he agreed to pay for the franchise. Sources told the New York Daily News that NBA owners supported Ratner’s bid because it is based on moving the team to Brooklyn. Ratner and his partners are expected to complete the deal this week.
NFL opening acts
The NFL will open the 2004 season with a one-hour pregame special — “NFL Opening Kickoff” — Sept. 9 on ABC. The show from Gillette Stadium and Jacksonville will lead into the Colts-Patriots game at 9 p.m. and will feature musical performances from Mary J. Blige, Destiny’s Child, Elton John, Toby Keith, Lenny Kravitz and Jessica Simpson. Simpson will perform from Jacksonville, site of Super Bowl XXXIX, while the others will perform at Gillette Stadium.
Cable talks resume
Cablevision and Time Warner Cable last week reached an interim agreement over carriage of Cablevision’s MSG, FSNY and Metro channels. The deal at least temporarily ended an 11-day blackout and came just in time for 2.4 million Time Warner Cable homes in the New York area to watch the Astros-Mets game. The companies have been trying to settle on the price Time Warner pays Cablevision for the channels.
Nike buys Starter
Nike has paid $43 million to acquire 100 percent of the equity shares of Official Starter Properties LLC and Official Starter LLC. The entities are the sole owners and licensers of the Starter, Team Starter and Asphalt brands, as well as master licensee of the Shaq and Dunkman brands.
Giants co-owner ill
For these stories and more, visit our sister publication, The Sports Business Daily, at www.sportsbusinessdaily.com.