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Nets Provide Most Detailed Look At Sports Franchise Yet

Nets
AP
Nets

Forest City Enterprises, presumably as part of their deal with Russian billionaire Mikhail Prokhorov for the New Jersey Nets, filed a 10-K amendment last month that provided the most inside look at a professional sports franchise I've ever seen.

From the filing, we learn that Nets Sports and Entertainment lost, before taxes, $77.2 million in 2009, on par with the previous two years ($76.4 million in '08 and $77.0 million in '07).

The team pulled in $25.9 million in ticket sales in 2009, down from $37.4 million in '08 and $39.9 million in '07. The team scored $32.5 million in television broadcast revenues (local deal is $9.7 million alone) and $13.1 million in sponsorship and promotional revenues.

The team had an operating income of $78.8 million, down from $93.9 million in '08 and $97.0 million in '07. The Nets said they paid their players and staff a combined $66.1 million in 2009, that other team costs added up to $12.6 million and that scouting cost the team $1.5 million.

Through 2014, the Nets currently are on schedule to owe its employees, including players, $118 million. The Nets paid $51,840 per game to lease the Izod Center last season. That price increases by 3 percent each season.

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