It's understandable the Nets would want a change of scenery. Newark might not be what they had in mind.
According to NJ.com, the Nets have agreed to play in Newark for the next two seasons, moving from their current location in the Meadowlands. The move is seen as an attempt to build up a greater fan base for the anticipated move to Brooklyn and the yet-to-be-constructed Barclays Center in 2012.
The Nets could be playing games in the Prudential Center, home of the New Jersey Devils, as early as this season. It will cost the Nets as much as $4 million to move the 12 miles from the Izod Center to downtown Newark. The Nets will owe the New Jersey Sports and Exposition Authority $7.5 million for breaking their lease at the Izod Center, a sticking point in previous talks regarding a move.
The team and the Sports Authority, a state entity, agreed to a $4 million early-termination fee that could be offset by advertising, suite revenues and other credits. The Sports Authority agreed to take less money, mostly due to the Nets' agreement to amend their territorial rights if they do indeed move to Brooklyn.
By amending the rights, the Nets leave the door open for another team to potentially come to New Jersey. The Sports Authority accepted less money with the hope of a greater payday down the road.
The Prudential Center, a privately owned venue, is equally pleased with the current move. While attendance has been dwindling at the Izod Center, the NBA's oldest arena, the Nets drew well when they played two preseason games in Newark.
They hope they can find that success again, as they fight to avoid the worst record in NBA history.
