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Nets Lost $6.1 Million Last Season, Says Forbes

Forbes Magazine, in its annual survey of the business of basketball, says the Nets lost $6.1 million last year and rank 22nd out of 30 teams in value. The survey, based on public records and Forbes own analysis, also notes the team carries more debt than any other NBA franchise: $78 million. According to Forbes, the Nets were one of 11 teams to lose money in 2004-05. Portland, owned by the world's seventh richest man, is the biggest loser, at $31.5 million. Phoenix made $40 million.