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[h1]New Jersey Nets move to Brooklyn "will happen" in 2011[/h1]
The New Jersey Nets will definitely move to a yet-to-be-built Brooklyn stadium for the 2011-12 season, said the NBA team's Chief Executive Officer.
According to Bloomberg, Brett Yormark said the team will overcome economic concerns and legal opposition to move to the $1 billion arena designed by architect Frank Gehry.
In January, team-owner Bruce Ratner said he may scale back some of the costlier designs for the stadium in the current economic situation. Last month a New York appeals court upheld the dismissal of a lawsuit over the state's environmental review of potential problems, including traffic, crowds and terrorism, however the project still faces a lawsuit over New York's right to demolish more than a dozen properties.
"It will happen," Yormark said in an interview for Bloomberg Television. "We'll be there for the 2011-2012 season. We've pre-sold 20 per cent of our suites. We've got eight of our 14 founding partnerships already completely signed. Next week, we'll announce our ninth."
"We feel very confident about the financing. We feel very confident about just the project in general, and once we get through this final piece of litigation, we'll be in the accelerated mode to break ground and get ready to open."
UK-based back Barclays bought the naming rights to the arena in January 2007, adding in November 2008 that it was "unwavering in its commitment" to the project.
Brooklyn has not had a major professional sports team since baseball's Dodgers moved to Los Angeles in 1957.
http://www.sportbusiness.com/news/169026/new-jersey-nets-move-brooklyn-“will-happen”-2011