Following up from yesterday, the New Jersey Nets reached a tentative deal to sell the team to the group that is hoping to move it to Brooklyn.
Bruce C. Ratner, the New York real estate developer who wants to move the New Jersey Nets to an arena in downtown Brooklyn, reached a tentative agreement to acquire the team for $300 million, defeating a similar offer by Charles Kushner and Senator Jon S. Corzine of New Jersey, the Nets' ownership group confirmed tonight."We're in the final stages of negotiating an agreement with Bruce Ratner,'' said Edwin Stier, president of Community Youth Organization, the Nets' ownership group. "The contract terms have been finalized and we're putting the paperwork together.''