Brett Yormark Rumors
Following the announcement in 2013 that the New York City teams would co-host the All-Star game, soon-to-be commissioner Adam Silver said the Nets would host the big Sunday game at Barclays Center in “the relatively near future,” a reward for only holding the sidebar events in 2015. Amidst rumors that majority shares of the team and the arena are up for sale, CEO Brett Yormark told the Daily News that there hasn’t yet been a commitment from the Nets. He said the topic should be discussed shortly. “I’m sure there will be some options to host it again,” Yormark said. “I’m sure after this weekend, management and ownership will sit down and decide whether or not it’s something we want to pursue. But the experience has been terrific.”
Chris Broussard: Nets are denying report that Mikhail Prokhorov has put the team up for sale. Quote from Nets ownership: “As we have said for many months, ownership is always open to listening to offers – that’s just good business. There is nothing imminent in terms of a sale of any stake in the team.” I’m not reporting Nets not selling; I’m reporting Nets are DENYING report, specifically Brett Yormark, Barry Baum & GM Billy King.
Also mourning him was Nets CEO Brett Yormark. “I am terribly saddened to learn about Jeffrey’s death,” he said in a statement. “Jeffrey was a passionate Nets fan and one of our most visible and loyal supporters.”
Brooklyn Nets minority owner Bruce Ratner is putting his majority share of Barclays Center on the market. “Our goal is to identify a strategic partner as we continue to capitalize on the great performance of Barclays Center and the promise of Nassau Coliseum,” Barclays Center spokesman Barry Baum said in a statement. “The current management team [Ratner and Barclays Center CEO Brett Yormark] will continue in its existing role.”
SportsBusiness Journal also noted that Barclays Center earns more than $30 million annually, and banking sources told the publication that the arena’s value is approximately $750 million. A source had told ESPN.com that the Nets were asking $1.1 billion for Barclays Center, so $350 million more than that valuation.
The source described the meeting — which Nets minority owner Bruce Ratner and chief executive officer Brett Yormark also attended — as “exploratory” in nature. The source said Prokhorov held the meeting to look into ways to expand his sports and entertainment portfolio, which, along with the Nets, includes Barclays Center, Nassau Coliseum and the sales and marketing operations of the Islanders. The source said that any deal that is made with another group would be a “merger and not a sale” and that nothing is imminent.