An August 12th deadline may speed the resolution of ownership of the Nets and Barclays Center, according to NetsDaily. Bruce Ratner’s parent company, Forest Center Enterprises, revealed last week that Ratner must repay his debts to MP Entities by that date or his ownership interests in the team “will be diluted from 20% to approximately 8%.” The other 92% would be owned by Mikhail Prokhorov. The website expects FCE to retain its 20% interest by paying the tens of millions it owes to Prokhorov, saying what would be lost is more valuable than the amount still owed. Negotiations for Ratner’s complete stake in the team have either started or will begin soon. The Nets’ cost-cutting moves have made the team a more attractive purchase, as the website speculates that the franchise could turn a profit next season.
There’s more news out of Brooklyn:
- Rondae Hollis-Jefferson could be the type of strong personality the Nets need, writes Tim Bontemps of The New York Post. He speculates the “effervescent” Hollis-Jefferson will be a welcome addition to a team sometimes accused of lacking emotion and passion. “He doesn’t hold anything back,” said Brandon Ashley, Hollis-Jefferson’s teammate at Arizona. “Sometimes that’s a good thing and sometimes that’s not the best [thing], but you always know what to expect from him.” Hollis-Jefferson was drafted 23rd overall by the Blazers last month, and his rights came to Brooklyn in a deal for Mason Plumlee.
- Markel Brown, who was inserted into the starting lineup as a rookie this season, is happy to have Hollis-Jefferson on board, Bontemps writes in a separate story. Brown was made a starter as the Nets tried to improve their defense and athleticism, and he views Hollis-Jefferson as a similar player. “I see us locking down a lot of players in the future, and I see a lot of promise for both of us on the defensive end,” Brown said. “It’s just about going out there and contributing on offense for both of us.” Brown’s salary of $845,059 is only partially guaranteed for next season. He received $150K by staying on the roster through July 15th, and that figure increases to $200K September 1st. Brown’s contract will become fully guaranteed if he is not waived by September 29th, as the schedule of salary guarantee dates shows.
- The Nets are coordinating Juan Pablo Vaulet‘s recovery from tibia surgery with his Argentinian team, according to NetsDaily. The Nets reportedly think Vaulet has a bright NBA future and are hoping to add him to the team next season. He was a drafted by the Hornets in the second round last month, and his rights were dealt to Brooklyn.