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Ratner Parent Company to Lend Nets $13 Million to Cover Losses

Forest City Enterprises, parent company of Bruce Ratner's development firm, has agreed to lend the Nets $13 million to cover operating losses. FCE owns 21% of the Nets and is the team's largest shareholder. The loan agreement is buried in its annual report. The report admits losses will continue while the team is in New Jersey and there's "no assurance that it will be profitable" in Brooklyn. And the Nets are opening a virtual Barclays Center in midtown to show fans what the arena will look like.