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Nets Lost More Than $20 Million Last Year

An analysis of the Nets financial picture, reported in both Sports Business Journal and New York Times Tuesday, reveals that the Nets lost more than $20 million last year. SBJ reported a loss of $24 million while the Times reported a loss of $26.8 millon both based on an analysis found in public filings by Bruce Ratner's corporate parent, Forest City Enterprises. According to the Times, the Nets owner is looking for a partner who could infuse $60 million in new capital.