Net Losses Mounted Last Quarter

Is this why we are so cheap with Free Agents and our own players? Krstic walk for a few dollars? Nocioni not gotten for a few dollars? Diop, Moore, Pargo, Dooling, Posey, House,etc. etc. Do these losses coincide with Kidd leaving? Yi is the solution to getting fans back? It seems to me that there are too many non basketball decisions being made, or too many decision being made by business people.

don’t be so naive. the NBA is a business. it is entertainment. Although the product happens to be derived from a sport, make no mistke about it, the NBA is a BUSINESS and profits (or the stopping of losses) is the ultimate goal.

but Ratner is no fool. he knows he needs to spend money to make money, which is why ever since the KMart debacle, he decided to open his wallet. however, it makes no business sense to go over the luxury tax unless that piece will help you win the title and ultimately make more money. (the cutting of Hassan Adams)

the Nets always wanted to keep Kidd, but his poor attitude and play after the 07-08 opening struggles (Kidd had been turning the ball over far too frequently, and they were mostly unforced, a result of Kidd trying passes too hard or just not putting enough effort into them. not to mention the fact that he kept chasing triple doubles)

This is why they will need young talent to trade VC. Trading away Vince for only exp. contracts will make that place an even worse ghost town. You will literally be able to hear a pin drop.

$7.2 mil maybe just a small sum to deduct from the parent’s company profits.

Cry me a river, and the financial losses will continue to skyrocket once the fans with common sense or those who can tell when someone is blowing smoke up their butts stop buying tickets, Yi or no Yi.

To rebuild is one thing, but the stuff we’ve seen take place since Ratner took over makes you really have to question if you want to spend money at the Izod or watch the blow outs and piss poor basketball from the comforts of home. It doesn’t make one any less of a fan if they refuse to participate because they know the owner is a snake, but they are insulting all of us with this “Lebron 2010” garbage. As someone put it, it’s a smokescreen.

that is why the franchise move to Brooklyn.
The Meadowlands does not draw people.

“more than double last year’s total”

Well, hmmm, last year they had a bunch of playoff games that produced revenue. This year, not so much.

Anyone know how much the average team lost last year?
Or how much of those “operating losses” can be attributed to not having the synergy of an NHL team in the same arena for sales and advertizing?
Or how bad this is compared to those dog years of the team, inflation adjusted?

Great points, mr dollar bills.

Ratface is dreaming if he thinks brooklyn will support the nets.

I’ve lived here for decades. Brooklyn is knick country. Just like the rest of nyc.

Also, 90% of brooklyn is dirt poor and can’t afford high priced nba tickets. Ratface will be giving away tickets by the truckload in order to get fans into the barclays center.

The “financial losses” that ratface is incurring in east rutherford are mostly due to interest costs from a mountain of debt that won’t go away when/if the nets move to brooklyn.

Ratface’s decision to remain in the swamp rather than move to newark is also costing him tens of millions in lost revenue from luxury suites, club seats, season ticket sales, walkup sales, electronic signage ads and merchandise/food/beverage sales.

New Jersey has the population base and household income necessary to support an nba franchise, as long as that franchise is playing in a fan-friendly arena like the rock in newark. Brooklyn has less than one-third the population of new jersey and less than one-half the household income.

I’ve lived for years in both brooklyn and new jersey. New Jersey is far better suited to support a professional sports franchise than brooklyn is. For the last 50 years, brooklyn has only been home to a minor league baseball team for a reason. Because it’s a terrible place for pro sports.

The Nets have added $24 million in contract committments since last February…as noted in the Nets Off-Season Report #12, posted on NetsDaily blog Sunday.

Trading Kidd (who was owed $21.37 million over one) for Harris (who is owed $47 million over five) is a big part of it.

“that is why the franchise move to Brooklyn.
The Meadowlands does not draw people.”

The fact that they told the people of New Jersey the were going to move 4 years ago also doesn’t help. Why would people go to a game knowing they are leaving anyway???

Either way, I say good. Let the financial pressure mount for Ratner. Let the law suits keep raining down on him. Maybe it becomes too much & he sells the team to the Devils ownership.

@ Net Income,

So they’ve added more payroll to their overall mountain of debt. How does this make any sense at this point in time, and how will BK alleviate this problem, since they haven’t started any vertical construction? The arena is AT LEAST two years from being up and running, if you believe it will be built. Staying in the Meadowlands will only compound this problem. And building a $1 billion arena will only saddle FCR with an unbearable amount of expenses for years to come, especially with interest compounded on top of the principal. Have the rail yards been covered over with a concrete platform? Does FCR own all of the land needed for construction? Have the security issues at the corner of Atlantic and Flatbush been resolved? If not, where would this arena be placed? How many more delays can FCR stand before they break? Are they breaking? If I were an investor, I’d be highly upset that very little has moved forward, to the point where I might pull my financial backing. Let’s face it; this project, and their debt load offers more questions than answers, and the trade for Harris is the least of their concerns.

Excellent post Morpheus, this is why the whole Lebron thing is a sham being run by Ratner and co if you ask me…

no long term contracts, wait til 2010, because thats when we’ll know if he has to sell the team.

buy the time the stadium is built stage 2 of the renovation of the area will be done.im from brooklyn and i see 4 new locations were they will be building luxary apartment not to mention the old clocktower bank that Magic bought to make into luxary apartments at rediculous prices.most the so called dirt poor have been moving out the last 3 years. no matter how bad you want the nets to stay in a swamp, its been well thought out and the owner will help develop the area for a bigger profit and move this team.

25% of newyorkers like the Knicks the rest like another team.

@BrooklynBob

Brooklyn is more accessible to people in Manhattan, the Bronx, Queens, Staten Island, and Long Island, than is the maze of a mess of a maze in East Rutherford.

besides, it is also meant to be urban expansion into Brooklyn

@ Zartan,

“no matter how bad you want the nets to stay in a swamp, its been well thought out and the owner will help develop the area for a bigger profit and move this team.”

The point of my post is that the Meadowlands is not an option at this point. Even if BK happens (which it won’t), it makes sense for the Nets to move to Newark, if only temporarily. Some of those losses may be reduced. If BK were such a hot place to build such a massive development, there would be no problem in building it out. Creditors would line up to help finance it, which is not the case. Also, the arena has to be built in the first stage, according to an agreement b/t the city and FCR. And that can happen as far out as 12 years from now. This project is a joke! Move ’em to Newark already!!!

Excellent posts, morpheus & openhead.

If it wasn’t for ratface & company, the nets would already be playing in a state of the art arena in newark and raking in millions of dollars in profits. Instead of trying to cut roster payroll so he can use the savings on his fantasy arena, the nets’ owner would now be trying to sign star free agents like elton brand or corey maggette so that the nets can win an nba championship.

Like so many others have already said, the 2010 free agent market is simply a smokescreen being used by ratface to hide the truth from nets fans. Which is that ratface is destroying the nets’ roster for the sake of his fantasy arena in brooklyn.

morpheus, openhead, and brooklyn bob: thank you for understanding how ludicrous the move to brooklyn will be and how newark is a MUCH better alternative.

Many great points posted here, NEW JERSEY Nets fans – our voices should be heard. It is so blatantly obvious how much sense it makes to move the Nets to Newark permanently. I love the Meadowlands and I will always remember the great times I have had watching the Nets play at the house that the Boss built, but I know it’s time for a change. That change should be in New Jersey where the Nets rightfully belong and there is an arena with transportation access ready to go! I know the Nets could put 18,000 in the stands there on a regular basis and the franchise would finally have an identity and the fans could help continue to build a community near the arena and have a place to congregate before and after games. It makes so much sense, please Ratner, sell this team to the Devils and Newark!

@ isaac

Newark’s mayor and the devils’ owner are clearly committed to putting together a group of investors to buy the nets from ratface.

The devils’ owner spent his highly successful business career as an investment banker, so putting together deals like this is second nature to him.

But even if ratface refuses to sell his team or move it to newark, i am very confident that some other nba franchise owner will be willing to do so.

Remember, new jersey is the eleventh-most populated state in the nation, first-most densely populated state in the nation, second-most wealthiest state in the nation and has a spanking new state of the art arena surrounded by mass transit and urban nightlife. NBA franchise owners should be lining up to move there.