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October 29, 2008
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Sources Indicate Ratner Talked With Foreign Ownership Groups

Sources Say Ratner, Owners From Russia,
Middle East Talked About Interest In Nets
Nets Owner and Forest City Ratner CEO Bruce Ratner, who is trying to build the $4B Atlantic Yards project that includes the team's $950M Barclays Center, "has listened to overtures of two prospective foreign ownership groups," according to two anonymous NBA execs cited by Adrian Wojnarowski of YAHOO SPORTS. The sources said that the most serious advances "were made in recent months by Russian oligarchs, tycoons invested in the country's oil industry." One source said that the Russians' plan was to gain "full ownership of the Nets and control of the Atlantic Yards project in Brooklyn." Also, a Dubai-based group "expressed interest to the NBA and Nets ownership." There are "no ongoing negotiations, but the fact that Ratner was willing to listen speaks to the trouble he's had getting the [Barclays Center] built, as well as the financial beating he has taken" since buying the team in '04. Sources said that he is "losing as much as $30[M] a year on the team." NBA Commissioner David Stern "didn't speak specifically about potential interest in the Nets, but confirmed overseas interest in owning NBA teams." Stern: "It is fair to say that we have had expressions of interest -- no sales -- from Russia, the Middle East and China" (SPORTS.YAHOO.com, 10/28).

PLAY-BY-PLAY: In N.Y., Michael O'Keeffe reports the Nets are "using a seat-filling service to draw potential ticket buyers" to Izod Center for Saturday's home opener against the Warriors. Nets VP/PR Barry Baum said that the team is using N.Y.-based Play-by-Play, a company that "fills unsold seats for sports and entertainment events, to generate leads for season-ticket sales." The Nets averaged 15,656 fans per game last season, good for 21st in the league, but Baum said that the situation is "not as dire as that number indicates -- the Nets were one of the few teams with 2,000-plus season-ticket sales in recent years." But O'Keeffe notes the team this year "lacks star power," and Ratner's "push to move the club to Brooklyn has soured the team's New Jersey fan base." O'Keeffe notes Play-by-Play "charges an annual $99 membership fee, plus an $8 processing fee. In return, members are offered almost complimentary tickets (there is a $3.50 per ticket handling fee) for Broadway shows, dance performances, concerts and ballgames -- events that look better to TV and live audiences with a full house." Play-by-Play Owner Hugh Hayes said that his company "has worked with every sports team in the New York area" (N.Y. DAILY NEWS, 10/29).


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