The Brooklyn Nets were founded in 1967 and initially played in Teaneck, New Jersey, as the New Jersey Americans. In its early years, the team led a nomadic existence, moving to Long Island in 1968 and playing in various arenas there as the New York Nets(1).
Led by Hall
of Famer Julius “Dr. J” Erving, the Nets won two American Basketball
Association (ABA) championships in New York before becoming one of four ABA
teams to be admitted into the NBA as part of the ABA-NBA merger in
1976. Unlike the other three ABA teams
entering the NBA, who played in cities without any NBA presence, the Nets were
required to pay an “encroachment fee” of $4.8 million (equivalent to $26
million in 2023) to the New York Knicks(2). The team financed that payment be selling
Erving’s contract to the Philadelphia 76ers(3); and the Nets went
from winning the ABA title in 1975-1976 to having the worst record in the NBA
in 1976-1977. The team then moved back
to New Jersey in 1977 and became the New Jersey Nets(4)(5). During their time in the state, the Nets
played two consecutive NBA Finals in the 2001-2002 and 2002-2003 seasons, led
on the court by point guard Jason Kidd.
Photo
Credit: https://www.youtube.com/watch?app=desktop&v=kJyvb3h440I
1.
http://www.remembertheaba.com/TeamMaterial/NewJerseyMaterial/AmericansArticlePart1.pdf
2.
https://web.archive.org/web/20130929043803/http://fort -greene.thelocal.nytimes.com/2012/10/31/nets-knicks-ignite-crosstown-rivalry/
3. https://web.archive.org/web/20210415042532/https://www.nytimes.com/2012/07/05/sports/basketball/nets-move-to-brooklyn-with-legitimacy-in-sight.html
4.
Swayne, Linda E.; Dodds, Mark, eds. (August 8, 2011) Encyclopedia of Sports Management and Marketing. Sage Publications. p. 933
5.
Grasso, John (November 15, 2010). Historical Dictionary of Basketball. Scarecrow Press. p.262. ISBN 97808108775067
6. https://web.archive.org/web/20110930114100/http://www.nba.com/nets/jayz_announces_he_will_open_barclayscenter_2012.html
7.
https://web.archive.org/web/20110927204834/http://www.myfoxny.com/dpp/news/jay-z-makes-announcement-about-nba-nets-20110926-KC
8.
https://nypost.com/2012/04/13/nba-approves-nets-move-to-brooklyn/
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