Abraham Madkour, executive editor of Sports Business Journal, is out with the magazine's annual NBA Season Honors. The Nets were cited as the league's "biggest turnaround."
Madkour writes of the turnaround...
The early numbers are impressive. Since moving from New Jersey to Brooklyn and into the Barclays Center, the rebranded Nets are a revived franchise in all areas of the business. The team went 26-15 in its new home, made the playoffs, saw its gate increase by some 250 percent, according to insiders, and rebranded its marks in what has become a cultural hit in the borough. The move also planted the seeds for an intense rivalry with the Knicks. I’ll keep a close eye on year two and the seat inventory and see if Jay-Z’s departure makes any difference. But for now, can anyone really say this team would be better off if it stayed on the west side of the Hudson?
The gate receipts are just the latest numerical indicator of the team's success. Nets led NBA in increased wins (27), gate receipts (250%), attendance (23%), local TV ratings (200%) and merchandise sales (~). That last number is the sign for "infinity." Although no one has reported the increase in merchandise sales, the Nets went from 31st last season (behind the Seattle Supersonics gear) to fourth.
Not everyone is so enamored. Wages of Wins Journal reports that while Nets made progress, they still have a ways to go in the NBA's biggest market.
The Nets are still only making about half of what we would expect given the size of their market, but at least they are on the right track.