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Ratner Expects Arena Approval by the Fall

In a conference call with investors, Bruce Ratner predicted that the Nets new arena would be approved by the middle of this fall and construction should begin shortly after that. The team should be in the arena by the 2009-10 season...and making money, said Ratner. He added that he and corporate parent Forest City Enterprises own between 20 and 22% of the Nets and the new arena. [Ratner can be heard starting at 00:59:58. He takes questions at 01:11:00.]