New Jersey Nets

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The New Jersey Nets now known as the Brooklyn Nets or a basketball team that were based in East Rutherford, New Jersey before moving to Brooklyn, New York in 2012. NBA Finals The New Jersey Nets actually have two NBA finals appearances in the early 2000s the first appearance was in 2002 where they lost to the Los Angeles Lakers in a sweep, in their second appearance in 2003, they lost to the San Antonio Spurs in six games but those two appearances did not help the nets stay in Jersey The problem is the arena never sold out and the network in a terrible area very dangerous area in New Jersey, so that’s why in 2012 they became the Brooklyn Nets this is one of the main reasons they moved, It started when George Steinbrenner did not want to pay for an arena in New Jersey. From 1999 until 2004, the Nets and Yankees merged their business operations into a holding company called YankeeNets. The pre-merger owners continued to run their respective teams in this time. The biggest result of YankeeNets was that they formed the YES Network cable channel.

The Nets wanted to build an arena in Newark, NJ. That arena eventually did happen as what we know today as the Prudential Center, but as the home of the Devils and not the Nets, although the Nets played their final two New Jersey seasons there. While the YES Network tremendously benefited both the Yankees and Nets, Steinbrenner and the Yankees side did not see the value in paying a dime for an arena for the region’s secondary NBA team. Having the Nets on YES worked for the Yankees as it provided programming during the baseball offseason. As a result, YES is more profitable that than SNY, which only has the Mets and no winter sports team.

This led to YankeeNets selling the Nets to real estate developer Bruce Ratner. Ratner wanted to build a major real estate development in Brooklyn, with a sports arena as an anchor. Owning the Nets gave him leverage to get Barclays Center, and the surrounding buildings in the complex built. Thanks to the Steinbrenners not wanting to build an arena in their YankeeNets partnership, it led to the Nets moving to Brooklyn, and Barclays Center being built.

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