Nets Owner Denies Entertaining Offers From Foreign Investors
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Ratner Denies Speaking With
Investors From Russia, Dubai |
Nets Owner Bruce Ratner yesterday said that he "welcomes hearing from potential investors from around the world interested in buying into" his franchise and the $4B Atlantic Yards project, but he "denied a report that he is already entertaining overtures from investors in Russia and Dubai as potential sources of ready cash," according to George Jordan of the Newark STAR-LEDGER. Ratner spokesperson Howard Rubenstein in a statement said, "Bruce Ratner has had absolutely no discussions with anyone from Dubai or Russia." Rubenstein added that "many U.S. investors have approached Ratner about the team." Rubenstein: "NBA teams receive overtures all the time from abroad as well as the U.S. We have a large project and we are happy to talk to those potential investors." The Nets in a separate statement yesterday said the franchise is "not for sale." A source indicated that investors from Asia, Russia and the Middle East "are shopping for deals" in N.Y., and added that the foreign investors were "more interested in Atlantic Yards than the NBA franchise." The source: "They want to buy the real estate, not the basketball team. But Ratner is trying to get them invested in the basketball team as well as the real estate" (Newark STAR-LEDGER, 10/30).
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