Atlantic Yards/Pacific Park Report

I drafted a version of this article five years ago, but never published it. My recent coverage of BSE Global CEO Sam Zussman ( link ) reminded me that I should, if only for my own archival purposes, revise and publish it. Remember the abrupt departure--surely a firing--of Brooklyn Nets/arena company CEO David Levy in 2019, after only two months? Probably not. Well, I didn't pay quite enough attention to Levy's statement, in an interview, "don't jeopardize your values for what may be a profit." That might have been seen as an implicit criticism of Nets owner Joe Tsai's defense of the Chinese regime.  That was reported only by the New York Post, which also reported--in contrast with some other coverage--that a "Nets source said Levy’s departure was not based solely on his comments from that event."  That implies it was, in fact, part of the reason. Initial vagueness As I wrote in November 2019, quoting a New York Times article , Levy's exit wasn...

Sportico's Scott Soshnick reported an exclusive 7/22/20,  BROOKLYN NETS TO NAME MSG EXEC JOHN ABBAMONDI AS TEAM PRESIDENT . Actually, John Abbamondi is a former executive vice president of ticketing, suites and hospitality at Madison Square Garden, who left in January after about four years. Before that, Abbamondi worked as senior vice president of team marketing and business operations at the National Basketball Association, according to Sportico. NetsDaily noted that the Nets had no official comment "but insiders confirmed the news." Though Abbamondi is taking some of the duties previously occupied by David Levy, who was CEO of both the arena and team, it's not clear whether he'll also be responsible for running the arena.

OK, maybe we have some insight on the odd, two-month tenure of David Levy, who left as Brooklyn Nets/Barclays Center CEO, telling the Times last November, "It wasn’t one thing. It just wasn’t the job I signed up for." According to Stefan Bondy in the New York Daily News, writing 5/7/20: According to multiple sources, Levy had written into his contract that he’d have influence over basketball operations. But that didn’t sit well with members of the Nets’ staff, and the pushback meant Levy was essentially bought out. Bondy got a no-comment from the Nets and no response from Levy. So we don't know for sure. But it's not implausible.

From Variety, a 4/23/20 exclusive,  Brooklyn Nets Parent Company Loses Chief Financial Officer Eu-Gene Sung : The parent company of the Brooklyn Nets is losing its chief financial officer, who is one of the highest-ranking female team executives in the National Basketball Association, according to people familiar with the matter. Eu-Gene Sung will soon be leaving BSE Global, sources, who were granted anonymity because the move hasn’t been announced yet, told Sportico. Her destination isn’t known. Sung was at BSE since 2017. Without a new announced job, that suggests she was pushed. The scoop was by Scott Soshnick, formerly of Bloomberg, and is now editor-in-chief of Sportico , Penske Media’s new sports business platform, which won't launch until the summer. For Sportico, that's not the best timing, in terms of advertiser revenue, but there are lots of things to write about in sports business. But that's why the article appeared in Variety, a Penske publication focused...

In  Joe Tsai and David Levy: a case of mismatched expectations , NetsDaily on 2/17/20 summarized the emerging explanation for the curiously brief term of Nets/arena CEO David Levy, who was gone after less than two months. Tsai recently told Bloomberg News it was a case of differing expectations: “He was already looking ahead at how to grow the J Tsai sports portfolio, but we also needed someone to do the nuts and bolts,” Tsai said during the interview. “Maybe he thought that he wanted to do something that’s bigger and he could just bring in other people to do it, and I’m of a view that before you outsource something you should do it yourself.” As NetsDaily noted, Levy talked about such things as mobile betting, esports, and new sports technology: "Still, one team insider told NetsDaily that Levy was surprised to be managing something as small as the Nets after running Turner Media." As previously noted, Levy told the Times, "It wasn’t one thing. It just wasn’...

The Brooklyn Nets have sometimes been impressive, and star guard Kyrie Irving can dazzle, but they're a perplexing 5-7, even after last night's shorthanded (without Irving or Caris Levert) win against the weak Chicago Bulls. That said, last year they took a while to gel, and everyone's waiting for Kevin Durant to re-appear next year, anyhow. And the Nets always look better than the trainwreck of the New York Knicks, at 3-10 and subject to perpetual criticism. But let's catch up on a few things. The Irving factor First, a long 10/29/19 ESPN article by Jackie MacMullan,  For the culture: KD, Kyrie and what comes next for the Nets , cited a few anecdotes showing that Irving marches to his own drummer: he refused to work with the team's performance specialist, and wouldn't take off his cap at a photo shoot. That doesn't make him a team killer, though. "I look at Kyrie as somebody who is an artist," Durant told ESPN. "You have to leave ...

Pretty much anyone (other than his twin) is less of a hype man than former Barclays Center/Brooklyn Nets CEO Brett Yormark. So, the new CEO, David Levy, sounded more grounded in a recent interview with WFAN's Mike Francesa, which,  as summarized by NetsDaily , included him anticipating on-site gambling via mobile devices from the arena. And Levy, on board since Joe Tsai bought the team (in full) and arena operating company Sept. 19, has reason to be happy, with a claimed 72% jump in Nets' ticket sales compared to last year, and a comfortable position as a "second" (at least in longevity and historic fan base) team in a large market, with good public transit. Arena active 285 days a year? But at about 19:52 of the interview, Levy's numbers got very questionable. "How many days a year is the building active?" Francesa asked. "Two hundred and eight-five," replied Levy. Really? If so, that would be a leap--and we'd have to see an...

There's a lot going on with the Brooklyn Nets, getting ready for a big year after what Bob Windrem (aka Net Income) of NetsDaily  called  "the greatest off-season in Nets history." A new team CEO They've hired  David Levy, former president of Turner Media, as a replacement for Brett Yormark as CEO of the team. Here's the 9/18/19 press release , which notes that Levy also will be President of J Tsai Sports, the sports investment and holding vehicle controlled by team owner Joe Tsai, and join Tsai’s family office as a venture partner. From the press release: During his tenure, Levy was instrumental in expanding Turner’s sports media rights with a number of leagues and organizations, including the NBA, MLB, PGA of America and UEFA. In 2012, he led the efforts for Turner to acquire Bleacher Report. The Daily News quoted Levy as saying stars Kyrie Irving and (the injured) Kevin Durant will drive ratings and revenue, helping the team and arena. (Will Durant c...