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Ratner To Get $60 Million from Partners, Will Retain Net Control

Bruce Ratner will retain control over the Nets in a restructuring of his real estate empire that will net him a $60 million windfall plus a promise of a lot more later. Forest City Enterprises, Ratner's corporate parent, is providing the New York builder with cash and stock in return for control of projects he has already completed in New York. Ratner remains chairman of the Nets. Forest City, controlled by Ratner's extended family, remains the team's largest shareholder at 21 per cent.