SportsBusiness Daily — Sports Business Resources — your sports business news and information source. Learn More

Friday
May 11, 2007
Print This Issue

Former Nets Investor Claims Ratner Promised Ownership Role

Former Nets Investor Claims Ratner
Promised Role In Ownership Group

Former Nets investor Eugene Greene is suing Nets Owner Bruce Ratner for $20M for allegedly “stiffing him out of a spot in the ownership” of the team, according to Jose Martinez of the N.Y. DAILY NEWS. Greene alleges that at Ratner’s request, he “sank $6[M] into the Nets in 2003 and also raised more than $30[M] from other investors.” In exchange, Greene said he was promised a “key role in the team’s organization.” Forest City Ratner spokesperson Joe DePlasco said, “We strongly disagree with the plaintiff’s assertion.” According to court papers from ’03, Greene was brought into the group Ratner was assembling to buy the team from former Owner Lewis Katz, and “charged with lining up more investors.” But Martinez notes Greene “wasn’t picked for the team’s [BOG] once Ratner’s bid to buy the Nets was approved” in ’04 (N.Y. DAILY NEWS, 5/11).

Print This Article

Get A Free Trial To SportsBusiness Daily

Reader Comments

To post comments on this article, log in or register for a free trial.

Related Stories By Company

Related Stories By Sport

Nets Break Ground On Barclays Center
March 12, 2010 : SportsBusiness Daily

Barclays Center Interior Renderings Unveiled
March 9, 2010 : SportsBusiness Daily

Newark Eyes NBA Team Once Nets Leave
March 8, 2010 : SportsBusiness Daily

Nets Ink Deal With Roni Deutch Tax Center
March 2, 2010 : SportsBusiness Daily

Nets To Temporarily Move To Pru Center
February 19, 2010 : SportsBusiness Daily

Jordan Likely Get OK By Week's End
March 15, 2010 : SportsBusiness Daily

MMOD Ad Revenue Up 20% From '09 For CBS
March 15, 2010 : SportsBusiness Daily

Effort Begins To Lure Wings To Auburn Hills
March 15, 2010 : SportsBusiness Daily

Women's Tourney Sites Could Lose Money Again
March 15, 2010 : SportsBusiness Daily

Nets Break Ground On Barclays Center
March 12, 2010 : SportsBusiness Daily

ALSO IN THIS SECTION

View All Articles from This Section

Go To Finance

A Publication of Street & Smith's Sports Group.
Use of and/or registration on any portion of this site constitutes acceptance of our User Agreement (REVISED 2009-06-23) and Privacy Policy (REVISED 2009-06-23).

© 2010 Street & Smith's Sports Group and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Street & Smith's Sports Group.