Nets Contemplating Move To Newark?

New Jersey Nets owner Bruce Ratner has been looking to build a new stadium in Brooklyn, New York, since he bought the team in 2003 but the real estate market meltdown and credit crisis has brought that project to a standstill even though they're claiming that ground will be broken this summer on the Brooklyn project (Atlantic Yards). The team still plays in the Meadowlands, but New Jersey built a shiny new arena in downtown Newark that hosts the New Jersey Devils and could be home to the Nets in the future.

While I think the Nets would benefit more from a move to Brooklyn, the move to the new arena in downtown Newark might be just the thing the team needs at this juncture. For now, the team is planning on holding two preseason games at the Prudential Center in October (the 2009-2010 season).

There are some obstacles to the Nets playing games at the Rock; namely that the Devils have a tight grasp on all the revenues from concessions at the arena.

But even if the Nets are unable to move to Brooklyn, given the difficulty in financing construction of the arena, there are obstacles to a Newark move as well.

Under the terms of the Devils’ lease, the National Hockey League team keeps nearly all of the revenue from all events held at the Prudential Center.

That raises questions about how much revenue a move to Newark would generate for the Nets. However, the value of luxury suites and corporate sponsorships would increase with a second major pro sports franchise.

The Nets have played in the Meadowlands since the arena opened in 1981. The club is losing an estimated $40 million a year playing in one of the NBA’s oldest facilities, which does not have the thousands of lucrative premium seats that newer buildings do.

Meet the New Boss...Same as the Old Boss

NEW YORK (Reuters) - Dan Doctoroff, a top deputy to New York City Mayor Michael Bloomberg who helped orchestrate the city's real estate revival after the September 11 attacks, will resign to become president of the mayor's private media company, Bloomberg L.P.

Bloomberg has called Doctoroff the most influential official in transforming the city since Robert Moses, the former housing, parks and transportation official who dominated New York City politics for decades.

Bloomberg announced Doctoroff's resignation as deputy mayor for economic development and rebuilding, effective December 31, and said Doctoroff would take over in February as president of the news and financial information company that the mayor founded and continues to majority own.

The mayor is not involved in daily operations of Bloomberg L.P., which has made him a billionaire several times over. But Bloomberg remains involved in the company's strategic and policy discussions.

I wish Deputy Mayor Doctoroff luck and success in his new post. He will be missed in New York politics. He was the Deputy Mayor for Economic Development. He was at the helm of New York City's economic revival after September 11. He was instrumental in obtaining approval for the new New York Mets and New York Yankee Stadiums, and the new Nets arena in Brooklyn. He is responsible for the planned expansion of the 7 train line to the west side, PlaNYC 2030, an initiative to make the city “sustainable;” Queens West, a proposed middle-income housing development; the development of Hudson Yards and the construction of Moynihan Station.

When I met him several years ago, he joked that he was the "Deputy Mayor of the Olympics", as he created NYC2012, the organization which spearheaded New York's campaign to land the 2012 summer Olympics. NYC2012 was sabotaged by Sheldon Silver and the State legislature, who refused to approve an expansion of the Javits Convention Center, which would have served as the Olympic Stadium, and subsequently, the new home the New York Jets (as well as provide New York with much needed additional convention space.)