Bruce Ratner Reportedly Looking To Sell Part Of Nets

Ratner Trying To Keep Nets Headed For Brooklyn, Wants To Maintain Piece Of Team

OUTLET PASS? A Nets investor indicated that Ratner "needs 'significant' financial assistance to keep the team afloat," and team sources said that he "may soon find someone to help alleviate the team's crushing debt load and facilitate the construction of the Atlantic Yards project." A Nets exec said, "I would be surprised if it doesn't happen fairly soon. Bruce has looked into several options. He's had offers, he's made counteroffers, and at some point in time -- probably by the time the season gets under way -- something will transpire." Some team investors claim the degree to which Ratner "needs help is uncertain." An investor said, "We all know he's looking to raise capital, and it is our understanding that he is looking to sell management partnership in the team. It could be a complete sell-off, but undoubtedly Bruce wants to stay active in the team for the move to Brooklyn." Nets officials indicated that the "most viable candidate" is former Yahoo Chair & CEO Terry Semel, a Brooklyn native. In Newark, Dave D'Alessandro reports Ratner last week also "flew to Moscow to meet face-to-face" with Russian industrialist Mikhail Prokhorov. Viola and Nets investor Marc Lasry, who were "once in partnership for this venture, but have purportedly splintered," also are interested. Ratner is rumored to "only be interested in a partnership with investors committed to the Brooklyn move" (Newark STAR-LEDGER, 7/24).

Print This Article