Devils' owner seeks power play for NBA's Nets

Does the name Newark Nets have a better ring to it than the Brooklyn Nets? The NHL's Devils owner Jeffrey Vanderbeek and Newark Mayor Corey Booker would like to think so. Venderbeek along with Booker are trying to put together an investor group to acquire the NBA franchise from real estate dealmaker Bruce Ratner and move them to Newark's new Prudential Center, according to The Newark Star-Ledger.

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The Nets are scheduled to move to Brooklyn and play in a new stadium called Barclays Center by 2010. The team was originally supposed to move by 2008, but financing troubles attributed to the credit crisis as well as mounting opposition from the community have caused the delay. The Nets are reportedly worth an estimated $338 million, a mild increase from the $300 million Forest Center Ratner Co. founder Ratner paid in November 2005. - Gerald Magpily

See story from Star-Ledger
Dealscape: Meadowlands exodus update
Dealscape: Build it and they will come?
TheDeal.com: Ratner's bid holds up for Nets
See NJ Nets hompage
See Forest City Ratner Companies homepage

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