Sources: Nets CEO out amid change in possession
Tim BontempsESPN
Brett Yormark, who has served as CEO of the Brooklyn Nets for greater than a decade, will step down from his publish, league sources confirmed to ESPN.
Yormark has been within the position since 2005, when he got here to the Nets from NASCAR, and helped usher the franchise to Brooklyn from its prior houses in East Rutherford and Newark, New Jersey. Having initially come aboard underneath Bruce Ratner, Yormark stayed in his publish throughout the possession of Russian billionaire Mikhail Prokhorov over the previous 9 years.
However with Prokhorov set to promote the ultimate 51% of the Nets — and, finally, Barclays Middle — to Joe Tsai, ending his tenure with the franchise, Yormark’s time with the Nets is coming to an in depth as effectively.
Yormark — like Prokhorov — can be remembered for being a part of getting the Nets throughout the Hudson River and into Brooklyn, a transfer that dramatically raised the profile of the franchise. He additionally was a part of the group’s brash, aggressive type early in its time in Brooklyn, an method that led the Nets each to spend report quantities of luxury-tax cash and to place the group in an enormous gap when it comes to draft capital misplaced due to the failed commerce for Kevin Garnett and Paul Pierce in 2013.
The sale to Tsai, and the departure of Yormark, will see Brooklyn head into one of the vital anticipated seasons in franchise historical past with a contemporary slate.
The Nets made arguably the most important splash of any group within the NBA this summer season, signing Kevin Durant, Kyrie Irving and DeAndre Jordan as free brokers after ending a shocking sixth within the Jap Convention final season and shedding a spirited five-game collection to the Philadelphia 76ers within the first spherical of the playoffs.