Sources: BSE Global CEO Brett Yormark Steps Down After 14 Years
BSE Global CEO BRETT YORMARK will "step down from his post," according to sources cited by Tim Bontemps of ESPN.com. Yormark has been in the role since '05, when he came to BSE from NASCAR, and "helped usher" the Nets to Brooklyn from its prior home in New Jersey. But with Nets Majority Owner MIKHAIL PROKHOROV selling the final 51% of the franchise to JOE TSAI, ending his tenure with the franchise, Yormark's time with the Nets is "coming to a close as well." Yormark will be "remembered for being part of getting the Nets across the Hudson River and into Brooklyn, a move that dramatically raised the profile of the franchise." He also was "part of the team's brash, aggressive style early in its time in Brooklyn" (ESPN.com, 8/15). BLOOMBERG NEWS' Scott Soshnick noted since the Nets' relocation in '12, Yormark has "presided over all facets of the team and Barclays Center, including operations, events, sales and marketing." A source said that Yormark "will stay until the sale to Tsai is complete" (BLOOMBERG NEWS, 8/15). Tsai's purchase of the Nets and Barclays Center is expected to close by the end of September (BSE Global).
WHAT COMES NEXT: The N.Y. Post's Brian Lewis noted Yormark called Prokhorov and Onexim Group CEO DMITRY RAZUMOV "family." Yormark said, "They’ve become like brothers. I couldn’t imagine staying on without them." SI's Chris Mannix writes it would not be surprising if Yormark "resurfaces in boxing." He made the sport a "priority at Barclays Center, and enjoys a strong relationship with PBC" (TWITTER.com, 8/16).