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Brooklyn Nets Likely To Post First Profit In Decade In 2012-13

The move from New Jersey to Brooklyn will give an instant boost to the value of the Nets franchise, reports the NY Post. The Nets were recently valued at $575 million, which is 60-percent more than just a year ago.

In addition to the potential larger market and reputation upgrade that comes with the relocation to Brooklyn, the new billion-dollar Barclays Center, where the Nets will be playing their home games starting this season, also gives the franchise better access to some of the newer revenue streams that have become vital to survival in the NBA over the last decade.

As stated in the NY Post article, those revenue streams are expected to produce $140 million for the Nets and majority owner Mikhail Prokhorov. This could mean $10-15 million in profit, compared to a $30 million dollar loss last season.

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