The Nets "missed a self-imposed deadline" for
submitting the list of their proposed new ownership for
approval by the NBA, but team President Michael Rowe said
that it "is not an indication that the sale is in jeopardy,"
according to Steve Hirsch of the Bergen RECORD. Rowe said
that the group is "still in the midst of" sorting out shares
and roles, and "expects" the process to be completed in "two
or three weeks." Although Rowe declined to give any details
on the new ownership structure, he "did confirm" that a plan
existed for an unnamed FL-based investor "to put up more
than half of the reported" $150M purchase price, "but that
is no longer the case." Rowe "would not say" whether that
difference will be made up by another individual or "by
spreading the amount around the group." Rowe also
"confirmed the involvement of" former NJ Democratic Finance
Chair Lewis Katz, who is "believed to be a key" in putting
the group together. Rowe said that it is "likely [Katz]
will have a significant role" in the new group. Rowe
refused comment on "speculation" that comedian Bill Cosby
will be part of the group (Bergen RECORD, 7/13).
