Bruce Ratner, the owner of NBA team the New Jersey Nets, is considering selling a stake to raise capital, but retaining his controlling interest and pressing ahead with a planned move to Brooklyn.
“It is not our intent to sell the team outright…this is not an effort to liquidate our ownership,” said Jeff Linton, a spokesman for Ratner’s development company, Forest City Enterprises Inc, according to Bloomberg.
The New York Post had reported that Ratner wanted to sell the team, possibly retaining only a small interest.
Forest City Enterprises is developing a new home for the team in Brooklyn – the Barclays Center – but the cost of the project has spiralled, and there has been local opposition to it.
