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New Jersey Nets
The New Jersey Nets are a well-known professional basketball team that play in the National Basketball Association (NBA). They are from East Rutherford, New Jersey.
The New Jersey Nets franchise was formed in 1967. This was part of the American Basketball Association, and at that time Arthur Brown was the owner. Brown wanted to call the team the New York Freighters. This was at the time when they were to play at the 69th Regiment Armory. However, pressure from the New York Knicks compelled the Armory to back out three months before opening day. The team then had to shift to the Armory in Teaneck, New Jersey. Their name was the New Jersey Americans here, and they did quite well during their first season.
During the 1976 summer, the NBA and the ABA merged. Part of their agreement included four teams from the ABA [the Nuggets, Nets, Pacers and San Antonio Spurs] that were to merge with the NBA. Out of these teams, the Nuggets and the Nets had already applied to join the NBA [1975]. At this point in time, the Knicks believed that their territory was invaded, and demanded $4.8 million. After negotiating with the Knicks, and paying a final settlement of $3 million, Boe was short of cash, and he had to revoke a pay raise for Erving. To Erving, this was unacceptable, and Boe had to release him. Erving was then sold to the Philadelphia 76ers for $3 million. To make their season harder without Erving, Archibald's broken his foot drove the team out of the season. They ended with 22-60, which was the worst record in the league.
In the early 1990s the Nets staring crawling back with a team of younger and fresher talent. They had brought in Derrick Coleman and Kenny Anderson, and they also acquired Drazen Petrovic. They did not have a winning record during this time, but certainly made it to the playoffs.
By 2000, the Nets hired as the team president Rod Thorn, a longtime NBA executive best known for drafting Michael Jordan while he was the Bulls' general manager. Immediately, he began to put together a team that would be the most talented one since the ABA champions of the mid-1970s. He first hired Byron Scott as coach, and then went on to bring in Kenyon Martin from the University of Cincinnati.
The Nets ended their 2005-06 regular season with a record 49-33. They managed to take their 4th Atlantic Division championship in their last 5 seasons. Apparently, the team had returned to its previous success levels.
The notable points of the season included naming Vince Carter in the All-Star Team. Also, Kidd, was named in the NBA All-Defensive team by the end of the season.
In 2005, the Nets made official their plans to return to New York. However, this time they said they would relocate at the Prospect Heights neighborhood of Brooklyn.
Also, the Nets further announced that it would rename the planned Brooklyn arena, the Barclays Center. This name emerged from the British bank Barclays that hopes to expand its profile in the United States. It has signed a 20-year deal for naming rights.
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