The numbers are stunning. The New Jersey Nets, soon to be Brooklyn Nets, have the third-highest debt to value ratio in the National Basketball Association, at 79%, according to Forbes. The team lost the third-most in the last season, $23.6 million.
Yet the value of the Nets rose 14%, from $312 million to $357 million, according to Forbes, vaulting the team from 21st (of 30) to 14th place.
In the 2011 rankings, the value had risen 16% on losses of $10.2 million, though with an astronomical 224% debt/value ratio.
The article does not go into the explanation, but the opening of a new arena in the new Brooklyn market, is surely key; it offers new revenue streams and sponsorships, and a more valuable TV deal.
Yet the value of the Nets rose 14%, from $312 million to $357 million, according to Forbes, vaulting the team from 21st (of 30) to 14th place.
In the 2011 rankings, the value had risen 16% on losses of $10.2 million, though with an astronomical 224% debt/value ratio.
The article does not go into the explanation, but the opening of a new arena in the new Brooklyn market, is surely key; it offers new revenue streams and sponsorships, and a more valuable TV deal.
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