InNETSweTrust
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<div class="quote_poster">Quote:</div><div class="quote_post">New York developer Bruce Ratner swiped the New Jersey Nets off the auction block late yesterday with a bid of $300 million, ending an intense and sometimes acrimonious three-month bidding war with Charles Kushner.
"We're in the final stages in our discussions with Bruce Ratner," Ed Stier, chief executive of the Community Youth Organization, the nonprofit group that controls the team, said last night. "Our discussions with Ratner moved more quickly and reached a favorable conclusion."
Ratner and his partners expect the deal to be finalized as early as today, clearing the way for the Nets to move into a proposed $600 million arena in downtown Brooklyn by 2009.
For New Jersey, the deal signals a sobering end to a lukewarm 27-year relationship with the first major sports franchise to wear the state's name on its uniforms. It also means Jason Kidd and the two-time defending Eastern Conference champions will be playing two rivers and 18.5 miles away in an arena that might as well be in a different country.</div>
Full Story BY MATTHEW FUTTERMAN AND GEORGE E. JORDAN
"We're in the final stages in our discussions with Bruce Ratner," Ed Stier, chief executive of the Community Youth Organization, the nonprofit group that controls the team, said last night. "Our discussions with Ratner moved more quickly and reached a favorable conclusion."
Ratner and his partners expect the deal to be finalized as early as today, clearing the way for the Nets to move into a proposed $600 million arena in downtown Brooklyn by 2009.
For New Jersey, the deal signals a sobering end to a lukewarm 27-year relationship with the first major sports franchise to wear the state's name on its uniforms. It also means Jason Kidd and the two-time defending Eastern Conference champions will be playing two rivers and 18.5 miles away in an arena that might as well be in a different country.</div>
Full Story BY MATTHEW FUTTERMAN AND GEORGE E. JORDAN
