Although it remains unclear when or even if a deal will be made with any of the bidders, a sale of the Nets could foreshadow the break-up of YankeeNets, which formed in 1999 and led to the launch of a separate television network dedicated principally to coverage of baseball team the New York Yankees.
Tensions within the multi-sports team group have grown in recent months over financial losses for the Nets and NHL franchise the New Jersey Devils, along with the failure to reach a deal for a Newark arena.
The three investment groups wanting to buy the New Jersey Nets submitted revised bids, and another unidentified bidder reportedly made an new offer.
None of the four bids exceeded $300million, and the high and low bids were separated by about $30m.
Developer Charles Kushner and US Senator Jon Corzine, leaders of the only group that would keep the team in New Jersey, reportedly bid $250m.
Charles Wang, owner of the New York Islanders and founder of Computer Associates, and New York real estate developer Bruce Ratner also entered revised bids but details were not available.
The new unidentified bidder is believed to have formerly expressed interest in buying the Milwaukee Bucks but is not known in most sports circles.
Investment banks Lehman Brothers and Goldman Sachs will evaluate the offers and present them to YankeeNets officials.
