Thursday , Dec , 10 , 2009 C.Y. Ellis

New Jersey Nets May Play in Newark Next Season


The Nets, who have been losing tens of millions of dollars a year, would avoid paying a $7.5 million penalty to the Izod Center for breaking their lease to move to Newark. They would also pay a significantly lower per-game rental fee, and earn a share of suite revenue they generate at the Prudential Center. The Devils and the Nets would also sell ticket packages together. New Jersey officials, who hold out hope that the move to Newark’s gleaming arena could help keep the Nets from moving to Brooklyn in 2012, said a performance clause in the proposed deal would require that the team spend minimum amounts on player salaries and marketing as long as they remain at the Prudential Center.

http://www.nytimes.com/2009/12/10/sports/10jersey.html?_r=1&ref=basketball