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Board of Governors gives unanimous OK

Originally Published: August 11, 2004
Associated Press

The NBA Board of Governors on Wednesday unanimously approved the sale of the New Jersey Nets to an ownership group that plans to move the team to New York.

The league expects the sale to the group led by Brooklyn developer Bruce Ratner to close next week.

"What was only an idea less than a year ago is quickly becoming a reality," Ratner said in statement released after the approval.

Ratner and his group will pay an estimated $300 million to buy the much-traveled team ...

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