Note from a Fan – Time to Sell
June 26th, 2009, 11:46 am by NetIncomeLet’s face it. This franchise is a mess.
After yesterday’s trade and last night’s draft pick, the New Jersey Nets are back where they were in 2000, a mismanaged operation that is a joke to its fans and the larger NBA universe.
It’s traded away its stars. It plays in the worst venue in the NBA, if not professional sports. Its fan base is shrinking and its move to Brooklyn questionable at best. Its respected basketball managers spend most of their time making excuses for an owner who is increasingly unavailable and when he does speak says little anyone believes.
There is no longer trust between those who are most passionate about the team and those who own and manage it. And quite frankly, it’s not going to get better any time soon. In fact, it is likely to get worse. It’s hard to root for the New Jersey Nets…or if you prefer, the Brooklyn Nets or the New York Nets.
It would be best for those running the team to say what the reality is: the decisions that have been made the last year and a half have made to save money. If the team got anything in return, it was a bonus. And the decision to dump Vince Carter along with other recent decisions was not made in the Nets’ corporate offices in East Rutherford or even Forest City Ratner’s offices in Brooklyn. It was most likely made in Cleveland, home of Forest City Enterprises, which assumes 54% of the team’s ever increasing losses and has seen its stock lose 75% of its value. Not good numbers.
The biggest canard of course is that this was done to help the “cap”, with front office types citing those big numbers that will be available next summer in the summer of free agency. No, it wasn’t. It was done to save money because the team is hemorrhaging it. Moreover, this looked like an operation that is up for sale even before the Sports Illustrated revelations. Companies looking to sell do all the things the Nets have done in the past several months: cut staff, shrink investments and, most of all, dump long term costs and conserve cash. This isn’t “Batten down the hatches. There’s a storm a-coming”. This is “Get me out of here”.
Put the most optimistic spin on it: the Nets could have as much as $27.3 million in cap space next summer, enough to sign two major free agents to max contracts. That’s no doubt what we’ll hear from management today and throughout the season. But is that the reality? That scenario is dependent on free agents wanting to come to New Jersey or Brooklyn. Has any major free agent willingly come to New Jersey…ever. Only two All-Stars have ever agreed to join the Nets as free agents—Alonzo Mourning after missing a year due to his kidney problem and Shareef Abdur-Rahim. How’d they work out? Whatever success the Nets have had historically has come in the draft and through trades.
Why would this be any different? The team certainly has some on-court assets in Devin Harris and Brook Lopez. We’re still hopeful about Yi Jianlian, although it is a case of hope over statistics. Courtney Lee is very promising and Chris Douglas Roberts and Terrence Williams are nice pieces, maybe more…although all three play the same position. Ryan Anderson was a nice piece too. But is this team, as currently constituted, going to win more games and be more attractive to a free agent than the team that won 34 games last year? No…period.
As for now, no one knows where this team will be playing in two years. Brooklyn has been downsized, and down-marketed. If ground has been broken by the end of the year, a brand new arena and brand new fan base in New York might be appealing to a Lebron James or a Yao Ming (there we said it). And then whoever owns the Nets might see his financial situation improved enough to spend some money. Suppose Brooklyn doesn’t happen. Then what? Why would a free agent join a franchise whose location, fanbase and ownership are, in order, uncertain, fed up and inept?
A few months ago, during one of his rare discussions with the writers who cover the team, Bruce Ratner said he was willing to spend money, even go over the luxury tax, if it meant adding that one crucial piece to the Nets’ championship hopes. Does anyone believe that? Brett Yormark has told every (naive) business reporter he comes within a mile of that this year is about building brand loyalty. Can anyone stifle a laugh, or a yawn, anymore when they read that?
It’s possible, we guess, that the team will do something over the summer to rectify matters. We doubt it. Writers have warned that the team is unlikely to engage in any significant trades or free agent signings beyond the vets’ minimum.
A few months ago, a friend expressed his admiration for NetsDaily then smiled and asked, “ why couldn’t you follow a team with better prospects?”
Exactly.
June 26th, 2009 at 11:56 am
You’re absolutely right, Net Income. We’ve come full circle to where the Nets were in the mid-90’s, only the building is 15 years older. We’re the Twolves / Grizzlies / Kings / Clippers of the East.
June 26th, 2009 at 12:22 pm
Net Income, I do understand your frustration, I share most of it, especially losing Ryan Anderson (my favorite player last year). But let me say two things. First off, I love this website and it’s the go-to place for true fans. True fans hang in there even in the tough times and I appreciate what you’ve done and hope you will continue to invest the time in this site. It’s great and needed!
Secondly, I am willing to wait till next summer. That’s what all the talk has been about and I think we need to hang on one more year. I became a Nets fan in the Jason Kidd era (not long ago I agree) but I became a fan because at that point the Nets were a bunch of nobodies who’s star player was known for passing not scoring! The thing that made me love this team was they were blue collar — hard workers who no one expected to do anything and they made it work. I think if you look at our squad now, we’re getting closer to that (we need to trade Simmons and Sean) but let’s face it, we have a team that no one expects anything from and could work hard and show they are a team worth joining (even if they don’t win a ton of games). That I think would be appealing to a FA and add several good draft picks in what’s projected to be a stronger draft than this year and we could have a “Jason Kidd” (an established star FA), a “Richard Jefferson” (who was a great draft pick/ rookie that year) and a number of hard working growing young players and veterans who could take us to the top.
I know it’s optomistic – but that’s what fans are, right?? I’m giving this team till the famed FA class signings and if the plan works – then we’re all there — no need to bail now — we’re building to something,
By the way – I agree that Ratner and his team are cutting costs, but I BELIEVE Rod Thorn is not — what I mean is Rod Thorn is building, he’s working with what he has, but I think he loves the challenge and is seriously building for something and I think we’ll see the genius next summer when it’s all there.
June 26th, 2009 at 12:46 pm
Couple all of the above with the blatant disrespect of the ownership & NBA towards NJ & it’s no wonder fewer & fewer fans show up to the game. The product is getting progressively worse & yet they complain that they’ll never get the support they need in NJ. Aside from a few year stretch, the team has been a joke for decades, rarely putting a quality product on the floor. What do they do while Brooklyn continues to be in limbo & the Nets continue to play in NJ? They ditch the blue uniforms, because they say New Jersey on it.
News flash…a good product during the finals runs was progressively bringing in more & more fans. Granted he was overpaid, but the heart was ripped out of the fan base, when fan-favorites Kenyon Martin & Kerry Kittles were traded with nothing in return. A fan base was alienated, until ownership woke up & brought in Vince Carter. Again, the Nets slowly generate more interest, but the team never makes a move to improve, and instead wallows in mediocrity until we instead trade away what little talent the team did had for nothing again.
June 26th, 2009 at 12:51 pm
I’m going to write in more detail about this deal on Monday on Slippery When Nets, just to give everything time to settle down and clear my head. Without stepping on my article too much, I disagree whole-heartedly with the sentiments in this article. As of right now, the Nets are tied for the best (and worst) record in the league for the 09-10 season. Could Lee breakout like Harris did? Could VC suffer the “Curse of Thorn”? Could the game plan actually work, and the Nets end up with two big time free agents in 2010? That’s the great thing about following sports – anything can happen. It’s why the games are played.
June 26th, 2009 at 12:52 pm
It would be difficult to make an argument with the above assessment nor claim that it lacks validity. But there could be another viewpoint. Moving Carter is the right move even if you were not looking to sell the team. Getting rid of Carter reminds me a bit of what Branch Rickey, general manager of the Pittsburgh Pirates, once told Ralph Kiner when Kiner held out for more money. Rickey told him to sign the contract offered because “we finished last with you, we can finish last without you”. This can be applied to the Carter situation as the Nets finished out of the running with him, they can finish out of the running without him and save a boatload of money. Carter will not take the Nets to the promise land of champions. It was necessary to cut his salary. With this trade, they accomplished that and in return got at least one promising player in Lee.
I understand everything hinges on moving to Brooklyn. Let’s face it. The Meadowlands is a poor facility and poor location. If they can establish themselves in Brooklyn, it would be an enormous boost to the franchise. Could ownership be misdirecting us and providing misleading info? Absolutely. But so far, the moves made do make sense in terms of long term planning and rebuilding even if they resemble a bail out of the franchise. Landing in the lottery again next year might not be the worst thing to happen. They might add another good building block that could attract free agents. You have numerous power forwards in that draft such as Davis from UNC and Monroe from Georgetown. Right now the Nets have the center (Lopez) and point (Harris) positions covered. They also very possibly have a starting two guard from the group of Lee, Williams, and Douglas- Roberts with the others helping to form a good bench. Add the lottery pick from next year along with two free agents, James (I know, I know a big ?) and either Bosh or Boozer, and you have a championship contending team with players all under 28/29 years of age (and maybe still be at the cap). You would not have that with Carter still on your team.
Maybe there is light at the end of that tunnel and it’s not a NYC subway train.
June 26th, 2009 at 1:23 pm
As a 35 year avid fan I have the perspective to agree with NetIncome, since let’s face it for most of those years we’ve been mentioned in the same breath as the Clippers. (Although you’ve got to hand it to Sterling in that he actually makes money being mostly pathetic).
But I also can see StevieG’s point. Well, as I type this the reality is at this point no, I can’t.
At the end of the day this is business and this one has been run horribly for too many years. Sometimes you’re lucky enough to work for (or in this case follow) the good ones, and sometimes you’re not. I’ve worked for both and know that good business can offer the way out.
I see both Brooklyn and Newark as solutions. It’s a shame that greed is preventing even a short-term move to Newark. Pick a number — the “Brooklyn Nets” brand adds $300MM in value and the “Newark Nets” could add $150MM. Either way could help the product on the court assuming ownership becomes progressive.
June 26th, 2009 at 1:44 pm
I actually don’t think there is much for the Nets fan to think about. I can see exactly two scenarios occurring between now and next summer:
Scenario 1: FCE gets all approvals and funding it needs for Brooklyn by December 31, and by next summer there is steel in the ground and constuction workers on the site. In this scenario, Nets fans know where the team is going to be for the long haul (because Ratner will either keep the team of sell the team with a commitment by the buyer to Brooklyn. And the team could become at least moderately attractive to free agents, who will have a 1 year pergatory in East Rutherford before the new place in Brooklyn.
Scenario 2: Appeals/funding problems/whatever cause the Brooklyn arena not begin construction by December 31. In that case, the team is on the market very quickly, and there may even be a buyer by next summer. In that case, it is extremely unlikely that the team will stay in this area. There will be no free agents until the team is bought and moved to a new location.
So, really, the limbo we’ve been in for 4 years (or whatever it is) willbe over by next year this time. We – and all free agents – will know exactly where the Nets stand: either an attractive Brooklyn destination, or on the market and probably moving away.
June 26th, 2009 at 1:47 pm
We’ve clashed many times previously but I always respected your desire to support this team. As a Net fan for many years I hope for both of us that things work out. After the death of Michael Jackson and the trade of VC for really nothing, yesterday was very depressing. Words are cheap so what the team says is irrelevant. The sale of the team or the signing of a top FA is all that would show me this team has a future. Thank you for your input. LETS GO NETS!
June 26th, 2009 at 2:05 pm
I think you are a wonderful writer NetIncome. This is a thoughtful, and I think accurate piece. I think it is time for new ownership, but don’t understand all the ramifications of the pending move to Brooklyn, and having Ratner own the arena, and someone else own the team. It is all very complicated. If Brooklyn actually happens, and the fans in Brooklyn support the team, will the team have the resources to buy better players, or will the added fan revenue just line Ratner’s pockets, as the arena owner? I like Courtney Lee. This could be a really good trade, if he breaks out, like Devin did last season. We got much better players in this deal, than we did overall for JKIDD. We just didn’t get any draft picks. But we’ve got extra picks next year, and it is supposed to be a better draft class. In the end, like many NETS fans, I will follow the team and hope for the best. But with the changes that the Magic, Spurs and Cavs made, I think I will be getting good value from my subscription to NBA League Pass next year because I will DVR some of their games to scan and watch as well.
June 26th, 2009 at 2:18 pm
Dude, don’t you think you deserve this for your\ support of Ratner and his Brooklyn land grab all these years?
Gotta say, I’m feeling the schadenfruede right now.
Yet I used to root, hard, for the Nets, back to the days of Super John Williamson and Petro and on to the days of K-Mart and Kittles and Kidd and RJ. I watched or listened to every playoff game in 2002 and 2003. I remember sitting morose during the second half of an NYC Ballet performance after stepping out on the balcony of the New York State Theater to plug a little transistor radio in my ear only to hear the Celtics come from way back to beat the Nets in Game 3 of the 2002 conference finals.
But then, Bruce Ratner decided to use the Nets to pull off a monumental real estate scam, rip off New York’s taxpayers, and ruin a neighborhood.
I love sports, but I love fairness and honesty and justice far more. My affair with the Nets ended instantly. Sorry, it’s just business.
Maybe Shaq can sell LeBron on the charms and potential of Newark. Maybe he and LeBron and Cory Booker can team up to speed along that city’s renaissance. With a beautiful, brand-new arena (actually built!), lots of cap space and a couple promising young players, maybe there’s a glimmer of hope.
The key, though, is prying the team from Ratner’s clutches. Those of us fighting for Brooklyn have know that for a long time.
June 26th, 2009 at 2:29 pm
NetIncome – I have disagreed with you alot over the past few years, but this my friend is ON POINT! Man, the Knicks look more promising then WE do… Rock on my fellow NET FANS…. Enjoy the summer….
June 26th, 2009 at 2:40 pm
NI, I agree with what you say 100%.
I am impressed with some who are disagreeing who see an empty glass and talk about how full it is.
I wish you and NetsDaily the best. Hopefully, this situation will not cause a significant drop in hits on this site as fans defect. For myself, I am (as usual) spending way too much time on here, but this time it is for the purpose of trying to decide if I should move on and invest my time on some other interests. I have really enjoyed my season tickets the past 3 years, walking up to the top of Section 231 has been my winter exercise program. But I don’t think I want to take that hike to watch my team lose game after game while the visiting fans taunt us.
June 26th, 2009 at 3:31 pm
So Rory you think the Nets are honest? THAT was the point of my article. It’s the damn dishonesty that is appalling. Sorry you missed it.
June 26th, 2009 at 4:50 pm
well the nets have a lot of questions to answer, hopefully they’ll give us those answers next year or even as soon as july 1st.
June 26th, 2009 at 5:54 pm
Stern should never have allowed Ratner to purchase this team. Forest is undercapitalized and there is no legitimate interest in operating a basketball franchise. The purchase and Brooklyn move has always been about a development company using the team as a vehicle to get a handout and an undeserved windfall courtesy of NY politicians that will be paid for by NY taxpayers.In the meantime, New Jersey fans have been strung along and used in this fiasco. Yormak sold broken promises to our NJ fan base. Hang up the next time your ticket hawker calls.
June 26th, 2009 at 10:57 pm
Wow NI, this is a strong position you’ve taken. You’ve been very direct on NetsDaily about the things going on with the franchise — as a business. Usually, in support of the team’s decisions. While I don’t always agree with you, I ALWAYS respect your perspective and opinion.
I’m afraid I have to agree with you on many of your points. After watching the playoffs this year intently, I see just how much talent is required to field an elite team. We’re not close. There is just too much turmoil, too many things “in limbo”, too many young, inexpensive and “kinda-good-but-not-great” players to believe there is a silver lining in all of this.
The “see-saw” nature of the front office decision making frustrates me. First they dump Kenyon. Then say it was a mistake. Then they attempt to compete by adding retread players (i.e. Jamaal Magliore). And piss of the stars they have.
Then they write Vince an enormous contract without even seeing what the market would bear. Then it’s too much money and he has to be dumped.
I will continue to be a fan. Can’t help it. But I also can’t help feeling a bit betrayed. There is a ring of disengenuousness that I can’t get out of my ears.
June 27th, 2009 at 12:30 am
He’s been dismantling this team from day one, that Ratner. Now his back is so up against the wall he isn’t even trying to hide the fact he feels nothing for the game. The quicker he loses his shirt the quicker the team can get rebuilt by someone who has his head in the game, and maybe his heart too
June 27th, 2009 at 1:15 am
I have a feeling that if the Brooklyn move were not imminent, Jared Kushner would buy the team.
June 27th, 2009 at 6:15 am
Yes, the team may be for sale and things are far from great from a roster standpoint.
However, the team needed to ship Carter off. He’s not a building block – now he’s a secondary player who can help a championship team. You can’t pay him all that money for 10 more wins a season.
The Nets have some promising young players on the roster and cap space. This gives Rod some options. That’s a better position to be in than having mediocre veteran players with no upside.
Maybe Harris gets back on track, Lee continues to grow, and Williams turns about to be Scottie Pippen type player. Right now Lopez is the only keeper and only time will tell if anyone else moves into that category.
June 29th, 2009 at 6:38 pm
It’s time to become a NY Knicks fan. The Nets are a joke and it would be the best thing for NJ if they left. Newark is better off getting an expansion team, because that is pretty much what Brooklyn is getting. Enough is enough. Brooklyn states they want an NBA team, little do they know they are getting more like an NBDL team.
July 24th, 2009 at 10:34 am
Wow, I never even thought of that (getting an expansion team for NJ). Even though I have invested my time and emotions to this team, I am willing to look forward to a new team in New Jersey. Is there nobody in NJ who can buy a basketball team for New Jersey?