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tel/fax:
718.362.4784
Please note our new postal address when sending
contributions to the legal fund:
121 5th Avenue, PMB #150
Brooklyn, New York 11217
About DDDB
Our coalition consists of 21 community organizations and
there are 51 community organizations formally
aligned in opposition to the Ratner plan.
DDDB is a volunteer-run organization. We have over 5,000
subscribers to our email newsletter, and 7,000 petition
signers. Over 800 volunteers have registered with DDDB
to form our various teams, task-forces and committees
and we have over 150 block captains. We have a 20 person
volunteer legal team of local lawyers supplementing our
retained attorneys.
We are funded entirely by individual donations from the community at large
and through various fundraising events we and supporters have organized.
We have the financial support of well over 3,500 individual
donors.
More about
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Daily News: Ratner Tried to Sell The Nets
The Daily New breaks some news, with a new twist. Last spring there was
a lot of chatter in the press that Ratner was trying
to sell the Nets to Jersey investors who would move the team to Newark's Prudential
Center Arena.
Today's story says that Ratner had been trying to unload the team on some investors
but keep the team in the proposed Atlantic Yards arena if it's ever built.
Remember, Bruce Ratner doesn't own the land or have the money he needs to build
his arena in Brooklyn:
Bruce
Ratner explored Nets sale
NY Daily News by Frank Isola and Mitch Lawrence
New Jersey Nets principal owner Bruce Ratner met with a group of investors within
the past year about possibly selling control of the basketball operations, the
Daily News has learned.
One of the investors, who did not want to be identified, said that Ratner met with investors because the Nets were "hemorrhaging dollars." The deal would not have included the Atlantic Yards project, a $3.5 billion sports arena, residential and business complex in downtown Brooklyn.
The project has been delayed by lawsuits and a weak economy, although Ratner remains committed to building the Nets a new arena.
"He was looking for equity," the investor said of the deal that is no longer on the table. "But now is not the time to sell a sports team, as the Cubs found out. Now, people are holding onto their cash."
...
In the Nets' case, due to the economy, banks are not lending money for the kind of project Ratner has planned.
The Nets have been losing from $20 million to $25 million annually for several seasons, according to a league source, who projects similar losses this season.
Atlantic Yards Report wonders: "If
Ratner was trying to sell the Nets, what might that mean?"
Update: Just like the Newark chatter, Team Ratner is denying
the News story according to the NY
Post
Nets blog:
A spokesman for owner Bruce Ratner denied a report that said he checked
into options to sell the team.
"The story isn't true. I don't know what else to say. It's not true,"
the spokesman said. Lots of denial going around when it comes to Atlantic Yards.
Posted: 10.28.08
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