As noted in May, Ratner's investment banker, marketing 20% sale of team, thinks Brooklyn Nets worth $1 billion. As Sports Business Journal wrote:
“We feel so confident on the billion … because every team will benefit from the new national TV deal,” said Lyle Ayes, managing director of Evercore Partners, which Forest City hired to sell the 20 percent position. Market observers expect the NBA to double its rights fee from national media with new deals after the current national agreements with ESPN and Turner Sports expire in 2015. Ayes also cites the Nets’ local TV deal with YES Network as a factor in the valuation. That deal pays the Nets around $20 million annually, a relatively low figure for a team in the country’s largest market. By comparison, the Los Angeles Lakers, who share the nation’s second-largest media market with the Clippers, are expected to receive an average of $200 million annually from Time Warner Cable SportsNet through 2032 under terms of their local broadcast deal.
Extrapolating from that leap, Business Insider estimated new values for all 30 NBA teams. Which means
the Nets, estimated by Forbes at about $780 million, would be worth $2.71 billion
|via Business Insider|
Times Columnist Harvey Araton wrote 6/2/14 Lewis Katz’s Vision for the New Jersey Nets Went Unrealized:
In November 1999, Lewis Katz stood on a high school stage in New Jersey’s largest city and told an audience of students, local politicians and a smiling President Bill Clinton, “The New Jersey Nets are coming to Newark — remember that.”
...“To have the Nets in Newark and the commitment they’ve made to have 40 percent of the profits go to the community and the children is a challenge to all sports teams to follow the path of Lewis Katz and Ray Chambers,” Clinton said that day.
...But it was ambition that helped undo the Newark relocation dream and all the promised trimmings. In 1999, the Nets entered a partnership with the Yankees, creating YankeeNets, with the intent to create a regional powerhouse and provide year-round programming for the cable network YES, which made its debut that year.
...“The Nets were losing money, Steinbrenner wasn’t happy, and he and Lew didn’t get along,” [Buce] Ratner said. “And while the whole thing with Newark was sincere, I think Lew and Ray Chambers started to realize that the financial aspect of it just wasn’t possible.”