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Nets worth 60% more in Brooklyn, may turn profit this season


This is why Nets ownership has worked to make a move to Brooklyn — it’s all about the dollars.

The Nets are worth 60 percent more now than they were last season, according to a sports economist. And they may well turn a profit this year, too. That according to the New York Post.

As the Nets gear up for the first season in the soon-to-be-completed Barclays Center, the team is now worth roughly $575 million, according to one sports investment banker. That’s 60 percent more than they were valued just last season by Forbes….

The Nets are projected to generate $140 million in revenue and earn between $10 million and $15 million in profit, a source with direct knowledge said. Last year, the NBA franchise took in half that amount and lost nearly $30 million.

Nets’ owner and Russian billionaire Mikhail Prokhorov’s stake in the team is worth double what it was when he bought it, according to the Post’s math. After sitting through the lockout we all know the owners know how to fudge numbers, but if that is even close to true it is a great investment.

And really, the team is just a slice of the financial pie, the real money is in the Brooklyn Yards development — the residential and retail that will go up around the Barclays Center. Prokhorov and former Nets owner Bruce Ratner are the ones standing to make money off that.

With all those dollars, a max deal for Brook Lopez seems a small price to pay.

It’s good to be the Nets.

Carmelo Anthony says he can play at high level 4-5 more years

USA Basketball Men's National Team Training Camp

Carmelo Anthony can flat-out score the rock — that has never been the question. Even hurting last season for many of the 40 games he played, he averaged 24.2 points a game, had a true shooting percentage of 53.1 percent (right near the league average) while having the entire weight of the Knicks offense on his shoulders (32.2 usage rate, fifth highest in the NBA). When people (or players) talk about him being overrated, the discussion turns to defense or if he makes his teammates better. But there should be no doubt Anthony is an elite scorer.

He thinks he will be for a while longer — like another five years. Via Ian Begley of ESPN:

In fact, the 31-year-old Knicks star is confident that he can play at a high level for the next “four or five years.”

“Without a doubt. Without a doubt,” Anthony said after the Knicks’ final training camp practice on Saturday.

The Knicks better hope that’s true, they already made that bet with that massive five-year contract they gave him last summer.

Anthony’s age combined with him coming off knee surgery have a lot of people — myself included — expecting him to take a step back. Not a big one, but he is coming up at the point in his career where some open shots he used to get are now contested because he’s half-a-step slower, and some of those looks don’t fall as often. His jumper isn’t suddenly going to look like Rajon Rondo‘s, ‘Melo is going to get his points, but he may not be as efficient.

Fortunately, the Knicks have an improved supporting cast around him this season. That should take some offensive load off his shoulders, and maybe the Knicks offense will see better ball movement and start to resemble the triangle. If it’s just more isolation Anthony, it’s not going to be pretty.

Kings pick up option on G Ben McLemore

Ben McLemore, Rodney Hood
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SACRAMENTO, Calif. (AP) The Sacramento have picked up the 2016-17 option on guard Ben McLemore‘s contract.

General manager Vlade Divac announced the move Saturday.

McLemore was Sacramento’s first-round pick in 2013. He averaged 12.1 points, 2.9 rebounds and 1.7 assists last season.