Economics, Knicks Will Likely Stop Booker Plan for New NBA Team

NEWARK NJ - OCTOBER 23: A general view of the Prudential Center prior to the game between the Buffalo Sabres and the New Jersey Devils on October 23 2010 at the Prudential Center in Newark New Jersey. (Photo by Mike Stobe/Getty Images)

Once the NBA lockout is over, a few more teams might be willing to move, financial conditions having changed. Don't expect Newark to be a landing spot, writes Mike Ozanian of Forbes.  The economics of the NBA and the Knicks would put an end to that speculation quickly despite Mayor Cory Booker's boosterism.

"First, any NBA team coming to Newark would have to pay a rich fee to the New York Knicks for invading their market. Experts say the fee could be at least $100 million," he writes. "Second, competing against the Knicks and Nets would be very difficult. As one sports consultant put it: 'It would also be one of the stupidest things the NBA could do. You would lose money in that building forever!'

Under its agreement with the NJSEA and the state, the Nets agreed not to oppose any new team in Newark and will give up their NBA territorial rights to New Jersey with their move to Brooklyn.

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